Cresset Asset Management LLC Has $25.60 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Cresset Asset Management LLC reduced its stake in Abbott Laboratories (NYSE:ABTFree Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 232,611 shares of the healthcare product maker’s stock after selling 15,720 shares during the quarter. Cresset Asset Management LLC’s holdings in Abbott Laboratories were worth $25,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Humankind Investments LLC lifted its stake in Abbott Laboratories by 3.1% in the fourth quarter. Humankind Investments LLC now owns 4,404 shares of the healthcare product maker’s stock valued at $485,000 after buying an additional 131 shares during the period. Sollinda Capital Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $223,000. Regal Investment Advisors LLC lifted its stake in Abbott Laboratories by 9.6% in the fourth quarter. Regal Investment Advisors LLC now owns 10,800 shares of the healthcare product maker’s stock valued at $1,189,000 after buying an additional 943 shares during the period. State of Tennessee Treasury Department lifted its stake in Abbott Laboratories by 5.3% in the fourth quarter. State of Tennessee Treasury Department now owns 751,696 shares of the healthcare product maker’s stock valued at $82,739,000 after buying an additional 37,712 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its stake in Abbott Laboratories by 4.1% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 151,508 shares of the healthcare product maker’s stock valued at $16,676,000 after buying an additional 5,965 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the 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 sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Get Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Stock Down 0.1 %

Shares of NYSE:ABT opened at $107.49 on Tuesday. The company has a market capitalization of $186.99 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The business has a fifty day moving average price of $106.20 and a two-hundred day moving average price of $110.11. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

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 for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. Analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

About Abbott Laboratories

(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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