Voya Investment Management LLC Lowers Stock Holdings in Abbott Laboratories $ABT

Key Points

• Voya Investment Management LLC has reduced its stake in Abbott Laboratories by 7.3%, selling 84,539 shares during the first quarter, leaving it with approximately 1.08 million shares valued at $143.25 million.
• Abbott Laboratories has received several analyst upgrades, with William Blair upgrading the stock to a "strong-buy" rating, while price targets from various analysts range from $127.00 to $147.00.
• In its latest earnings report, Abbott Laboratories posted an EPS of $1.26, meeting analysts' expectations, and announced revenue of $11.14 billion, up 7.4% compared to the same quarter the previous year.

Voya Investment Management LLC cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,079,963 shares of the healthcare product maker's stock after selling 84,539 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Abbott Laboratories worth $143,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the first quarter worth $30,000. Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $32,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT traded up $1.43 during trading hours on Tuesday, reaching $132.76. The company had a trading volume of 5,400,392 shares, compared to its average volume of 6,654,774. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market cap of $231.06 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The business's 50 day moving average price is $130.36 and its 200-day moving average price is $131.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

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

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Wells Fargo & Company cut their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada boosted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

About Abbott Laboratories

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.