FSM Wealth Advisors LLC Reduces Holdings in Abbott Laboratories (NYSE:ABT)

FSM Wealth Advisors LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,374 shares of the healthcare product maker’s stock after selling 281 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Altshuler Shaham Ltd bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $28,000. Monumental Financial Group Inc. bought a new position in Abbott Laboratories in the 1st quarter worth about $32,000. FWL Investment Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $33,000. True Wealth Design LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $33,000. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $36,000. 73.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 10,400 shares of Abbott Laboratories 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, 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 sale, 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 accessible through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, 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. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABT shares. StockNews.com assumed coverage on Abbott Laboratories in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Mizuho raised 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 research report on Friday, July 21st. 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 research report on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.82.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT stock traded down $0.39 during mid-day trading on Monday, hitting $101.35. The company’s stock had a trading volume of 1,583,084 shares, compared to its average volume of 4,895,194. Abbott Laboratories has a 52-week low of $93.25 and a 52-week high of $115.83. The business has a 50-day moving average price of $106.17 and a 200 day moving average price of $105.24. 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 stock has a market cap of $175.88 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 4.58 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share 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 quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. Research analysts predict that Abbott Laboratories will post 4.4 EPS for the current fiscal year.

Abbott Laboratories Company 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.