Byrne Asset Management LLC Cuts Position in Abbott Laboratories $ABT

Byrne Asset Management LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,768 shares of the healthcare product maker’s stock after selling 99 shares during the period. Abbott Laboratories comprises about 1.2% of Byrne Asset Management LLC’s holdings, making the stock its 19th biggest position. 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 have also recently modified their holdings of the stock. Baron Financial Group LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $200,000. Czech National Bank raised its position in shares of Abbott Laboratories by 6.8% during the 2nd quarter. Czech National Bank now owns 425,277 shares of the healthcare product maker’s stock worth $57,842,000 after purchasing an additional 26,900 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Abbott Laboratories by 14.6% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,436 shares of the healthcare product maker’s stock worth $6,720,000 after purchasing an additional 6,300 shares during the last quarter. Sandy Cove Advisors LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $212,000. Finally, FF Advisors LLC raised its position in shares of Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ABT. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Raymond James Financial lowered their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $131.40 on Tuesday. The firm has a market cap of $228.70 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The firm’s 50-day simple moving average is $130.36 and its 200-day simple moving average is $131.21. 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 has a 1 year low of $110.86 and a 1 year 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, meeting analysts’ consensus estimates of $1.26. The business 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 company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. Equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

About Abbott Laboratories

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.