Voya Investment Management LLC Sells 84,539 Shares of Abbott Laboratories $ABT

Voya Investment Management LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,079,963 shares of the healthcare product maker’s stock after selling 84,539 shares during the period. Voya Investment Management LLC owned 0.06% of Abbott Laboratories worth $143,257,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ABT. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $28,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Wormser Freres Gestion bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $32,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ABT shares. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Mizuho increased their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Raymond James Financial dropped their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, July 18th. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.47.

Insider Activity

In other Abbott Laboratories 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 completion of the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 1.0%

NYSE:ABT opened at $133.92 on Friday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The firm has a 50 day moving average of $130.41 and a 200 day moving average of $131.32. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $233.08 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.52 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 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 company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter 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. As a group, sell-side analysts anticipate 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.