Birch Capital Management LLC Has $373,000 Holdings in Abbott Laboratories (NYSE:ABT)

Birch Capital Management LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,423 shares of the healthcare product maker’s stock after selling 176 shares during the period. Birch Capital Management LLC’s holdings in Abbott Laboratories were worth $373,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Morgan Stanley raised its holdings in shares of Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after purchasing an additional 4,886,954 shares during the last quarter. Geode Capital Management LLC lifted its position in Abbott Laboratories by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 31,196,788 shares of the healthcare product maker’s stock worth $3,151,497,000 after buying an additional 598,164 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Abbott Laboratories by 104,649.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock valued at $3,320,866,000 after acquiring an additional 30,218,560 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 40.5% in the first quarter. Wellington Management Group LLP now owns 20,820,152 shares of the healthcare product maker’s stock valued at $2,108,249,000 after acquiring an additional 6,003,997 shares during the last quarter. Finally, Norges Bank acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $1,893,715,000. 73.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Andrea F. Wainer sold 10,400 shares of the 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 completion of the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The sale was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the transaction, the director now directly owns 6,775,316 shares in the company, valued at $770,759,948.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction on 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 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 Price Performance

ABT stock opened at $100.99 on Tuesday. The company’s 50-day moving average price is $106.17 and its two-hundred day moving average price is $105.24. Abbott Laboratories has a 12 month low of $93.25 and a 12 month high of $115.83. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm has a market cap of $175.25 billion, a P/E ratio of 34.47, a P/E/G ratio of 4.54 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. The business had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $9.71 billion. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The company’s revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. On average, analysts anticipate that Abbott Laboratories will post 4.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. StockNews.com assumed coverage on Abbott Laboratories in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Morgan Stanley reissued an “equal weight” rating and set a $112.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Barclays raised their price objective on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Wolfe Research raised Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Finally, Mizuho lifted their price objective 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. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.82.

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.