Callan Capital LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,106 shares of the healthcare product maker’s stock after purchasing an additional 156 shares during the period. Callan Capital LLC’s holdings in Abbott Laboratories were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Fort Sheridan Advisors LLC lifted its stake in shares of Abbott Laboratories by 315.5% in the 1st quarter. Fort Sheridan Advisors LLC now owns 12,182 shares of the healthcare product maker’s stock valued at $1,234,000 after purchasing an additional 9,250 shares during the period. Freestone Capital Holdings LLC increased its holdings in Abbott Laboratories by 12.8% in the first quarter. Freestone Capital Holdings LLC now owns 99,836 shares of the healthcare product maker’s stock valued at $10,109,000 after buying an additional 11,303 shares in the last quarter. Capital Investment Advisory Services LLC raised its position in shares of Abbott Laboratories by 4.0% in the first quarter. Capital Investment Advisory Services LLC now owns 14,110 shares of the healthcare product maker’s stock worth $1,429,000 after acquiring an additional 545 shares during the period. Harbour Investment Management LLC boosted its stake in shares of Abbott Laboratories by 0.5% during the 1st quarter. Harbour Investment Management LLC now owns 26,750 shares of the healthcare product maker’s stock worth $2,709,000 after acquiring an additional 138 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its stake in shares of Abbott Laboratories by 20.2% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 367,563 shares of the healthcare product maker’s stock valued at $37,219,000 after purchasing an additional 61,788 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently commented on ABT. 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 report on Monday, July 24th. StockNews.com started coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “buy” rating for the company. Mizuho boosted their price target on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Wolfe Research upgraded Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.82.
Abbott Laboratories Stock Up 0.3 %
Shares of ABT opened at $102.71 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a market cap of $178.24 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 4.50 and a beta of 0.68. The company’s 50-day moving average price is $106.44 and its 200 day moving average price is $105.21. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $115.83.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The firm had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $9.71 billion. During the same period in the previous year, the firm posted $1.43 EPS. Abbott Laboratories’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 4.4 earnings per share for the current year.
Insider Buying and Selling
In other Abbott Laboratories news, EVP Andrea F. Wainer sold 10,400 shares of the firm’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 transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the sale, the director now owns 6,775,316 shares in the company, valued at $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 shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
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 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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