Goelzer Investment Management Inc. Decreases Stake in Abbott Laboratories $ABT

Goelzer Investment Management Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,900 shares of the healthcare product maker’s stock after selling 162 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Abbott Laboratories were worth $938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Seneca House Advisors raised its position in shares of Abbott Laboratories by 4.1% in the 2nd quarter. Seneca House Advisors now owns 2,636 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 104 shares during the last quarter. StrongBox Wealth LLC increased its holdings in Abbott Laboratories by 11.3% in the 2nd quarter. StrongBox Wealth LLC now owns 29,652 shares of the healthcare product maker’s stock worth $4,033,000 after buying an additional 3,011 shares during the period. Aaron Wealth Advisors LLC boosted its position in Abbott Laboratories by 3.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 14,719 shares of the healthcare product maker’s stock worth $2,002,000 after purchasing an additional 425 shares in the last quarter. Divergent Planning LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth approximately $4,033,000. Finally, Balefire LLC boosted its position in Abbott Laboratories by 73.6% in the 2nd quarter. Balefire LLC now owns 6,145 shares of the healthcare product maker’s stock worth $836,000 after purchasing an additional 2,606 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other 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 completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ABT shares. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Leerink Partners began coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. BTIG Research dropped their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Jefferies Financial Group raised Abbott Laboratories from a “hold” rating to a “buy” rating and upped their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, Raymond James Financial reduced their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.47.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.90 on Thursday. The stock’s 50-day moving average is $130.36 and its two-hundred day moving average is $131.24. The firm has a market cap of $233.05 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts predict 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.