B.O.S.S. Retirement Advisors LLC Sells 4,581 Shares of Abbott Laboratories (NYSE:ABT)

B.O.S.S. Retirement Advisors LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 16.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,016 shares of the healthcare product maker’s stock after selling 4,581 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Abbott Laboratories were worth $2,509,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $28,000. Monumental Financial Group Inc. acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $32,000. FWL Investment Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $33,000. True Wealth Design LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $33,000. Finally, Elequin Securities LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 10,400 shares of the company’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 completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $6,829,785.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Andrea F. Wainer sold 10,400 shares of the 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 sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $6,829,785.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Starks sold 50,000 shares of the firm’s 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 directly owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho lifted 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. Wolfe Research raised Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and issued a $112.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 21st. StockNews.com started coverage on Abbott Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Barclays boosted their price objective on Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.82.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.91 during midday trading on Friday, hitting $101.74. 8,303,319 shares of the company’s stock were exchanged, compared to its average volume of 4,914,443. Abbott Laboratories has a 52-week low of $93.25 and a 52-week high of $115.83. The stock has a 50-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. The company has a market cap of $176.56 billion, a P/E ratio of 34.73, a PEG ratio of 4.59 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted 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 business 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 business earned $1.43 earnings per share. The firm’s revenue was down 11.4% on a year-over-year basis. On average, equities research analysts forecast that Abbott Laboratories will post 4.4 earnings per share for the current year.

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.