Connors Investor Services Inc. Buys 2,340 Shares of Abbott Laboratories (NYSE:ABT)

Connors Investor Services Inc. boosted its stake in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 1.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 175,563 shares of the healthcare product maker’s stock after purchasing an additional 2,340 shares during the quarter. Abbott Laboratories accounts for 2.2% of Connors Investor Services Inc.’s investment portfolio, making the stock its 6th largest position. Connors Investor Services Inc.’s holdings in Abbott Laboratories were worth $20,780,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock valued at $17,906,500,000 after purchasing an additional 2,136,177 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 2.1% in the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock valued at $19,303,283,000 after buying an additional 2,836,966 shares during the period. State Street Corp raised its holdings in shares of Abbott Laboratories by 2.6% in the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock valued at $10,460,085,000 after buying an additional 1,896,462 shares during the period. Geode Capital Management LLC raised its holdings in shares of Abbott Laboratories by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 27,906,282 shares of the healthcare product maker’s stock valued at $3,915,982,000 after buying an additional 776,993 shares during the period. Finally, Norges Bank purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $2,290,723,000. Institutional investors and hedge funds own 73.03% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, SVP Fernando Mateus sold 2,457 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total value of $267,935.85. Following the completion of the sale, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Fernando Mateus sold 2,457 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total value of $267,935.85. Following the completion of the sale, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert B. Ford sold 102,425 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.10, for a total value of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The disclosure for this sale can be found here. Insiders sold a total of 204,788 shares of company stock valued at $21,776,756 in the last three months. 0.52% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 3.2 %

ABT opened at $105.84 on Wednesday. Abbott Laboratories has a one year low of $101.21 and a one year high of $142.60. The company has a market cap of $185.35 billion, a P/E ratio of 22.10, a PEG ratio of 4.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.54 and a current ratio of 2.01. The business’s 50-day simple moving average is $107.78 and its 200-day simple moving average is $112.43.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The business had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group cut their price objective on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Stifel Nicolaus cut their price objective on Abbott Laboratories from $136.00 to $126.00 in a report on Monday, July 18th. StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 3rd. Cowen cut their price target on Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. Finally, Morgan Stanley cut their price target on Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $132.46.

Abbott Laboratories Company Profile

(Get Rating)

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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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