New England Research & Management Inc. Trims Holdings in Abbott Laboratories (NYSE:ABT)

New England Research & Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,174 shares of the healthcare product maker’s stock after selling 190 shares during the quarter. Abbott Laboratories comprises approximately 1.2% of New England Research & Management Inc.’s investment portfolio, making the stock its 24th largest holding. New England Research & Management Inc.’s holdings in Abbott Laboratories were worth $2,090,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Fort Sheridan Advisors LLC raised its position in Abbott Laboratories by 315.5% during the first quarter. Fort Sheridan Advisors LLC now owns 12,182 shares of the healthcare product maker’s stock valued at $1,234,000 after acquiring an additional 9,250 shares in the last quarter. Freestone Capital Holdings LLC increased its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Freestone Capital Holdings LLC now owns 99,836 shares of the healthcare product maker’s stock valued at $10,109,000 after purchasing an additional 11,303 shares in the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Abbott Laboratories by 4.0% in the 1st quarter. Capital Investment Advisory Services LLC now owns 14,110 shares of the healthcare product maker’s stock valued at $1,429,000 after purchasing an additional 545 shares during the period. Harbour Investment Management LLC boosted its holdings in Abbott Laboratories by 0.5% during the first quarter. Harbour Investment Management LLC now owns 26,750 shares of the healthcare product maker’s stock worth $2,709,000 after buying an additional 138 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its holdings in Abbott Laboratories by 20.2% in the first 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 buying an additional 61,788 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Abbott Laboratories Trading Down 0.0 %

Shares of ABT opened at $102.65 on Friday. 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 capitalization of $178.13 billion, a P/E ratio of 35.03, a P/E/G ratio of 4.50 and a beta of 0.68. The firm has a 50-day moving average price of $106.35 and a 200 day moving average price of $105.19. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $115.83.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.71 billion. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 4.4 EPS for the current year.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 10,400 shares of the company’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 transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the sale, the director now owns 6,775,316 shares of the company’s stock, valued at $770,759,948.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total value 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 disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.