Somerset Trust Co Lowers Position in Abbott Laboratories $ABT

Somerset Trust Co lessened its stake in Abbott Laboratories (NYSE:ABT) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,611 shares of the healthcare product maker’s stock after selling 467 shares during the quarter. Abbott Laboratories makes up about 1.9% of Somerset Trust Co’s investment portfolio, making the stock its 11th largest position. Somerset Trust Co’s holdings in Abbott Laboratories were worth $5,932,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories during the first quarter valued at $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the first quarter valued at $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories during the first quarter valued at $30,000. Wormser Freres Gestion purchased a new stake in Abbott Laboratories during the fourth quarter valued at $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the first quarter valued at $32,000. Hedge funds and other 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 stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ABT shares. Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. BTIG Research reduced their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Royal Bank Of Canada increased their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company reduced their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $144.47.

Abbott Laboratories Trading Up 1.0%

NYSE ABT opened at $133.92 on Friday. The company’s 50-day moving average price is $130.41 and its 200-day moving average price is $131.29. 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 stock has a market cap of $233.08 billion, a PE ratio of 16.78, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the business earned $1.14 EPS. The firm’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. Equities research analysts forecast 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.