Legacy Financial Strategies LLC Decreases Holdings in Abbott Laboratories $ABT

Legacy Financial Strategies LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 25,117 shares of the healthcare product maker’s stock after selling 1,925 shares during the quarter. Abbott Laboratories makes up 0.7% of Legacy Financial Strategies LLC’s investment portfolio, making the stock its 28th biggest position. Legacy Financial Strategies LLC’s holdings in Abbott Laboratories were worth $3,416,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ABT. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories in the first quarter valued at $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories in the first quarter valued at $30,000. Wormser Freres Gestion bought a new stake in Abbott Laboratories in the fourth quarter valued at $32,000. Finally, JCIC Asset Management Inc. bought a new stake in Abbott Laboratories in the first quarter valued at $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.4%

Shares of ABT opened at $134.67 on Friday. The company has a market cap of $234.39 billion, a PE ratio of 16.88, a P/E/G ratio of 2.54 and a beta of 0.69. The business has a fifty day moving average of $130.38 and a 200 day moving average of $131.20. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share 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 analyst estimates of $11.01 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’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 expect that Abbott Laboratories will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABT. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target on the stock. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, BTIG Research lowered their price target on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.22.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction 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. This trade represents 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.