Abbott Laboratories $ABT Shares Sold by 1248 Management LLC

1248 Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,092 shares of the healthcare product maker’s stock after selling 745 shares during the period. 1248 Management LLC’s holdings in Abbott Laboratories were worth $1,073,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ABT. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Wormser Freres Gestion acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 2.5%

ABT stock opened at $132.56 on Friday. The firm has a market cap of $230.72 billion, a PE ratio of 16.61, a PEG ratio of 2.45 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 firm’s 50 day moving average price is $130.40 and its 200-day moving average price is $131.33. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. 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, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Analyst Ratings Changes

ABT has been the topic of a number of analyst reports. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Raymond James Financial dropped their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, July 18th. Evercore ISI lifted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Two investment 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 has an average rating of “Moderate Buy” and an average price target of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business’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 owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was 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 available through this link. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories 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.