Swedbank AB Sells 14,006 Shares of Abbott Laboratories $ABT

by · The Cerbat Gem

Swedbank AB cut its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,614,322 shares of the healthcare product maker’s stock after selling 14,006 shares during the quarter. Swedbank AB’s holdings in Abbott Laboratories were worth $219,564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cim LLC boosted its position in shares of Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after purchasing an additional 73 shares in the last quarter. Consilium Wealth Advisory LLC raised its stake in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after buying an additional 78 shares during the period. Mayflower Financial Advisors LLC boosted its holdings in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after acquiring an additional 78 shares in the last quarter. FF Advisors LLC grew its stake in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares during the period. Finally, Opes Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after acquiring an additional 80 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 0.9%

ABT opened at $133.90 on Thursday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a market cap 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 current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $130.36 and a 200 day moving average of $131.24.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 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 firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company earned $1.14 earnings per share. The business’s revenue for the quarter 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. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. Wells Fargo & Company decreased their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target on the stock. Finally, Raymond James Financial decreased their price objective on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $144.47.

Get Our Latest Report on Abbott Laboratories

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.

See Also

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