Moody National Bank Trust Division increased its position in Abbott Laboratories (NYSE:ABT – Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,144 shares of the healthcare product maker’s stock after buying an additional 341 shares during the quarter. Moody National Bank Trust Division’s holdings in Abbott Laboratories were worth $3,722,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. West Financial Advisors LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $67,000. Cooper Financial Group lifted its position in Abbott Laboratories by 39.1% during the second quarter. Cooper Financial Group now owns 3,943 shares of the healthcare product maker’s stock valued at $430,000 after buying an additional 1,108 shares in the last quarter. First Citizens Financial Corp purchased a new stake in Abbott Laboratories during the second quarter worth approximately $201,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Abbott Laboratories in the second quarter worth $109,000. Finally, Greenfield Savings Bank raised its stake in shares of Abbott Laboratories by 3.3% in the 2nd quarter. Greenfield Savings Bank now owns 6,310 shares of the healthcare product maker’s stock valued at $688,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.
Abbott Laboratories Stock Performance
Shares of NYSE ABT opened at $101.76 on Friday. Abbott Laboratories has a 1 year low of $93.25 and a 1 year high of $115.83. The firm has a market cap of $176.59 billion, a P/E ratio of 34.73, a PEG ratio of 4.59 and a beta of 0.68. The stock has a fifty day moving average price of $106.26 and a two-hundred day moving average price of $105.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.16 and a current ratio of 1.64.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on ABT. Morgan Stanley reaffirmed an “equal weight” rating and issued a $112.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. StockNews.com assumed coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Barclays upped their target price on shares of Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Wolfe Research upgraded shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Finally, Mizuho raised their target price on Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.82.
Insider Buying and Selling
In other Abbott Laboratories news, EVP Andrea F. Wainer sold 10,400 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, the executive vice president now owns 65,027 shares in the company, valued at $6,829,785.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 6,775,316 shares in the company, valued at $770,759,948.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,092,312.00. Following the sale, 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. 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.
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