Tompkins Financial Corp Cuts Stock Holdings in Abbott Laboratories $ABT

Key Points

• Tompkins Financial Corp reduced its holdings in Abbott Laboratories by 1.9% in the second quarter, selling 1,971 shares, resulting in ownership of 102,909 shares valued at approximately $13.99 million.
• Institutional investors now hold 75.18% of Abbott Laboratories' stock, indicating strong institutional interest in the company.
• Abbott Laboratories reported $1.26 earnings per share for the last quarter, meeting analysts' expectations, with a year-over-year revenue increase of 7.4%.

Tompkins Financial Corp lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 102,909 shares of the healthcare product maker's stock after selling 1,971 shares during the period. Abbott Laboratories comprises 1.3% of Tompkins Financial Corp's holdings, making the stock its 21st biggest position. Tompkins Financial Corp's holdings in Abbott Laboratories were worth $13,997,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kelly Financial Services LLC bought a new stake in Abbott Laboratories during the 1st quarter valued at $216,000. Bank Pictet & Cie Europe AG lifted its stake in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Edge Financial Advisors LLC boosted its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Abbott Laboratories in the fourth quarter valued at about $84,418,000. Finally, SageView Advisory Group LLC raised its holdings in Abbott Laboratories by 18.6% in the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after purchasing an additional 2,873 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Raymond James Financial cut their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $133.90 on Thursday. The company has a market capitalization of $233.05 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The company's fifty day moving average price is $130.36 and its 200 day moving average price is $131.24. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The company's revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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