Boston Financial Mangement LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,998 shares of the healthcare product maker’s stock after selling 1,004 shares during the quarter. Boston Financial Mangement LLC’s holdings in Abbott Laboratories were worth $6,231,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in Abbott Laboratories by 6.1% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,411 shares of the healthcare product maker’s stock worth $169,000 after acquiring an additional 81 shares in the last quarter. Cribstone Capital Management LLC increased its position in shares of Abbott Laboratories by 1.2% during the fourth quarter. Cribstone Capital Management LLC now owns 6,796 shares of the healthcare product maker’s stock worth $744,000 after purchasing an additional 83 shares in the last quarter. JBJ Investment Partners LLC lifted its holdings in shares of Abbott Laboratories by 1.7% in the 1st quarter. JBJ Investment Partners LLC now owns 4,972 shares of the healthcare product maker’s stock valued at $596,000 after purchasing an additional 85 shares during the last quarter. Axiom Financial Strategies LLC boosted its position in shares of Abbott Laboratories by 4.4% in the 4th quarter. Axiom Financial Strategies LLC now owns 2,027 shares of the healthcare product maker’s stock valued at $222,000 after purchasing an additional 86 shares during the period. Finally, Ocean Capital Management LLC grew its stake in Abbott Laboratories by 2.4% during the 4th quarter. Ocean Capital Management LLC now owns 3,783 shares of the healthcare product maker’s stock worth $414,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.
A number of brokerages have recently issued reports on ABT. Raymond James raised their target price on shares of Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $136.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. SVB Leerink raised their price target on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Thursday, January 28th. Finally, BTIG Research upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $126.06.
In other news, SVP Jared Watkin sold 94,576 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $119.90, for a total value of $11,339,662.40. Following the completion of the sale, the senior vice president now owns 59,783 shares in the company, valued at $7,167,981.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mary K. Moreland sold 400 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $121.84, for a total transaction of $48,736.00. Following the completion of the transaction, the executive vice president now directly owns 76,886 shares in the company, valued at $9,367,790.24. The disclosure for this sale can be found here. Insiders have sold a total of 102,797 shares of company stock worth $12,339,005 over the last 90 days. 1.50% of the stock is owned by company insiders.
NYSE:ABT traded down $0.67 during trading hours on Friday, hitting $117.13. The company’s stock had a trading volume of 4,629,348 shares, compared to its average volume of 4,396,042. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.32 and a current ratio of 1.75. The business’s 50-day moving average is $120.27 and its two-hundred day moving average is $116.13. The company has a market capitalization of $208.12 billion, a PE ratio of 36.72, a PEG ratio of 1.69 and a beta of 0.68.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Abbott Laboratories had a return on equity of 24.02% and a net margin of 15.33%. The business had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.72 billion. During the same quarter last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, analysts predict that Abbott Laboratories will post 5.05 EPS for the current fiscal year.
About Abbott Laboratories
Abbott Laboratories 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.
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