Edge Capital Group LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Edge Capital Group LLC lowered its position in Abbott Laboratories (NYSE:ABTFree Report) by 14.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,333 shares of the healthcare product maker’s stock after selling 1,384 shares during the period. Edge Capital Group LLC’s holdings in Abbott Laboratories were worth $917,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABT. Arbor Capital Management Inc. ADV purchased a new stake in Abbott Laboratories during the fourth quarter worth about $2,954,000. Belpointe Asset Management LLC raised its holdings in shares of Abbott Laboratories by 0.9% in the 4th quarter. Belpointe Asset Management LLC now owns 26,979 shares of the healthcare product maker’s stock worth $2,970,000 after purchasing an additional 232 shares during the period. Nicholas Company Inc. lifted its stake in Abbott Laboratories by 5.4% in the fourth quarter. Nicholas Company Inc. now owns 89,350 shares of the healthcare product maker’s stock valued at $9,835,000 after purchasing an additional 4,560 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Abbott Laboratories by 1.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 135,026 shares of the healthcare product maker’s stock valued at $14,862,000 after buying an additional 2,557 shares during the period. Finally, Cornerstone Advisory LLC lifted its position in shares of Abbott Laboratories by 13.8% during the 4th quarter. Cornerstone Advisory LLC now owns 5,439 shares of the healthcare product maker’s stock valued at $599,000 after buying an additional 659 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ABT shares. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday. Finally, Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

Get Our Latest Stock Report on Abbott Laboratories

Insider Buying and Selling

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Down 0.2 %

ABT opened at $103.23 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $106.60 and its 200 day simple moving average is $109.96. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The stock has a market cap of $179.58 billion, a PE ratio of 32.16, a P/E/G ratio of 2.49 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Company Profile

(Free Report)

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 company 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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