Abbott Laboratories $ABT Stake Lessened by Byrne Asset Management LLC

Byrne Asset Management LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 0.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 12,768 shares of the healthcare product maker’s stock after selling 99 shares during the period. Abbott Laboratories accounts for approximately 1.2% of Byrne Asset Management LLC’s holdings, making the stock its 19th largest holding. Byrne Asset Management LLC’s holdings in Abbott Laboratories were worth $1,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after acquiring an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after buying an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after buying an additional 168,095 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $131.40 on Tuesday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm’s fifty day simple moving average is $130.36 and its 200 day simple moving average is $131.21. 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 firm has a market capitalization of $228.70 billion, a PE ratio of 16.47, a PEG ratio of 2.54 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its 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. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the business posted $1.14 EPS. Abbott Laboratories’s revenue was up 7.4% compared to the same quarter last year. 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 anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and raised their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Evercore ISI raised their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley upped 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. 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. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $144.47.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.46% of the company’s stock.

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.