Stifel Financial Corp Sells 42,662 Shares of Abbott Laboratories (NYSE:ABT)

Stifel Financial Corp trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.4% during the first quarter, Holdings Channel.com reports. The fund owned 1,707,139 shares of the healthcare product maker’s stock after selling 42,662 shares during the quarter. Stifel Financial Corp’s holdings in Abbott Laboratories were worth $172,874,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ABT. Fairfield Bush & CO. bought a new position in Abbott Laboratories during the first quarter worth about $131,000. United Bank increased its holdings in Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after buying an additional 1,826 shares during the period. Mackenzie Financial Corp increased its holdings in Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock valued at $96,257,000 after buying an additional 15,521 shares during the period. Kinneret Advisory LLC increased its holdings in Abbott Laboratories by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after buying an additional 436 shares during the period. Finally, Lumature Wealth Partners LLC boosted its stake in shares of Abbott Laboratories by 636.2% in the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after purchasing an additional 1,915 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $100.67 on Friday. The firm has a market capitalization of $174.70 billion, a P/E ratio of 34.36, a P/E/G ratio of 4.54 and a beta of 0.68. The company has a fifty day moving average of $106.80 and a 200-day moving average of $105.21. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. Abbott Laboratories has a twelve month low of $93.25 and a twelve month high of $115.83.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $9.71 billion. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. Abbott Laboratories’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABT shares. Morgan Stanley reiterated an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Mizuho lifted their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. StockNews.com initiated coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Barclays boosted their price target on shares of Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Finally, Wolfe Research upgraded shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 21st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.82.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 10,400 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the sale, the executive vice president now owns 65,027 shares in the company, valued at approximately $6,829,785.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now directly owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company 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 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.