W.H. Cornerstone Investments Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 20.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,814 shares of the healthcare product maker’s stock after selling 1,219 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Abbott Laboratories were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.
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 worth about $28,000. Monumental Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $32,000. FWL Investment Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $33,000. True Wealth Design LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $33,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $36,000. 73.70% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $112.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 21st. StockNews.com began coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Barclays lifted their target price on shares of Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Mizuho lifted their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Wolfe Research upgraded shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $120.82.
Abbott Laboratories Price Performance
Shares of Abbott Laboratories stock opened at $100.99 on Tuesday. The firm has a fifty day simple moving average of $106.17 and a 200-day simple moving average of $105.24. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $115.83. The stock has a market capitalization of $175.25 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 4.54 and a beta of 0.68.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $9.71 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Abbott Laboratories’s revenue was down 11.4% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 4.4 earnings per share for the current year.
Insider Buying and Selling at Abbott Laboratories
In related news, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction dated Tuesday, August 8th. The shares were 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 in the company, valued at approximately $6,829,785.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total transaction 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 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.
- Five stocks we like better than Abbott Laboratories
- How to Invest in Cybersecurity
- 2 Beauty Stocks Beaten By the Ugly Stick But Ready to Rally
- How to Use Stock Screeners to Find Stocks
- Got Nuclear? Three Stocks To Play Energy’s Next Frontier
- How to Invest in Growth Stocks
- The Top 4 Utilities for Value, Yield, and Upside Potential
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.