Microvast Holdings announces departure of chief financial officer
Robert B. Ford (NYSE:F), Chairman and CEO of Abbott Laboratories (NYSE:ABT), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Ford sold 285,388 common shares at a weighted average price of $131.173 per share, totaling approximately $37.4 million. The shares were sold in multiple transactions at prices ranging from $130.68 to $131.38. The sale comes as Abbott, a $224 billion healthcare equipment giant, trades near its 52-week high with a "GOOD" financial health rating according to InvestingPro.
In addition to the sale, Ford exercised options to acquire the same number of shares, 285,388, at a price of $38.40 per share. Following these transactions, Ford directly owns 220,059 shares, while an additional 197,403 shares are held indirectly through the Ford Family Trust. The company has demonstrated strong shareholder returns, maintaining dividend payments for 55 consecutive years with a current yield of 1.84%.
These transactions are part of Ford’s routine financial management activities and reflect his ongoing commitment to the company. The filings provide transparency to investors about the trading activities of company insiders. With analysts setting price targets ranging from $109 to $158 per share, investors seeking deeper insights can access comprehensive analysis and 14 additional ProTips through InvestingPro’s detailed Research Report, which transforms complex Wall Street data into actionable intelligence.
In other recent news, Abbott Laboratories (ABT) has seen its stock price target revised by several analyst firms. Barclays (LON:BARC) analyst Matt Miksic raised the price target from $149 to $158, citing management’s updated financial outlook and revised earnings estimates. Similarly, UBS analyst Danielle Antalffy increased the price target from $146 to $148, with a focus on the firm’s financial guidance for fiscal year 2025 and the strength of its core business.
Stifel analysts also revised their outlook on Abbott, raising the price target from $130 to $135 following the company’s report of approximately 10.1% organic revenue growth for the fourth quarter of 2024. Bernstein analysts led by Lee Hambright increased their price target from $135.00 to $138.00, maintaining an Outperform rating and highlighting the company’s strong performance in the Medical (TASE:PMCN) Devices segment.
These are recent developments that follow the introduction of DeepSeek’s free AI assistant, which has caused a significant drop in US tech stocks and led to a clear rotation towards defensive stocks, such as Abbott Laboratories. The shift towards defensive stocks may continue as investors reassess the impact of emerging technologies on established market players.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.