Abbott Laboratories $ABT Shares Sold by Fulton Bank N.A.

by · The Markets Daily

Fulton Bank N.A. lowered its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 16.9% in the second quarter, HoldingsChannel reports. The firm owned 25,053 shares of the healthcare product maker’s stock after selling 5,105 shares during the quarter. Fulton Bank N.A.’s holdings in Abbott Laboratories were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $133.90 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $233.05 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.52 and a beta of 0.69. The stock’s fifty day simple moving average is $130.36 and its 200 day simple moving average is $131.24. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

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

Analyst Ratings Changes

Several analysts have weighed in on ABT shares. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Morgan Stanley lifted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. BTIG Research cut their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Finally, Mizuho lifted their target price 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 investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.47.

Check Out Our Latest Stock Analysis on ABT

About Abbott Laboratories

(Free Report)

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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