Gateway Investment Advisers LLC Cuts Position in Abbott Laboratories $ABT

Gateway Investment Advisers LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 9.3% during the second quarter, HoldingsChannel.com reports. The firm owned 490,915 shares of the healthcare product maker’s stock after selling 50,324 shares during the quarter. Abbott Laboratories comprises 0.7% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 26th biggest position. Gateway Investment Advisers LLC’s holdings in Abbott Laboratories were worth $66,769,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kelly Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $216,000. Bank Pictet & Cie Europe AG grew its stake in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. Edge Financial Advisors LLC grew its stake in shares of Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after buying an additional 81 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $84,418,000. Finally, Cerity Partners LLC grew its stake in shares of Abbott Laboratories by 49.8% in the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock valued at $199,939,000 after buying an additional 501,200 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 1.1%

Shares of NYSE ABT opened at $132.76 on Wednesday. The company has a market cap of $231.06 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. 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’s 50 day simple moving average is $130.35 and its 200 day simple moving average is $131.22.

Abbott Laboratories (NYSE:ABT) last announced its quarterly 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. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last 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 research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABT. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Finally, Evercore ISI increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Two equities research 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’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $144.47.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on 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. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is 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.