EP Wealth Advisors LLC Increases Stock Holdings in Abbott Laboratories (NYSE:ABT)

view original post

EP Wealth Advisors LLC boosted its position in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 0.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,596 shares of the healthcare product maker’s stock after acquiring an additional 113 shares during the quarter. EP Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners boosted its holdings in Abbott Laboratories by 0.4% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 20,487 shares of the healthcare product maker’s stock valued at $2,883,000 after acquiring an additional 83 shares during the period. Greytown Advisors Inc. boosted its holdings in Abbott Laboratories by 1.6% during the 4th quarter. Greytown Advisors Inc. now owns 5,393 shares of the healthcare product maker’s stock valued at $759,000 after acquiring an additional 84 shares during the period. Rowland & Co. Investment Counsel ADV boosted its holdings in Abbott Laboratories by 3.3% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 2,625 shares of the healthcare product maker’s stock valued at $369,000 after acquiring an additional 85 shares during the period. Oldfather Financial Services LLC boosted its holdings in Abbott Laboratories by 3.6% during the 4th quarter. Oldfather Financial Services LLC now owns 2,479 shares of the healthcare product maker’s stock valued at $307,000 after acquiring an additional 85 shares during the period. Finally, Keystone Wealth Services LLC raised its position in Abbott Laboratories by 1.5% in the 1st quarter. Keystone Wealth Services LLC now owns 6,050 shares of the healthcare product maker’s stock valued at $716,000 after purchasing an additional 89 shares in the last quarter. 73.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ABT. BTIG Research reduced their price target on Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. UBS Group reduced their price target on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Evercore ISI reduced their price target on Abbott Laboratories to $112.00 in a research report on Friday, July 22nd. Morgan Stanley reduced their price target on Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, July 21st. Finally, Wolfe Research began coverage on Abbott Laboratories in a research report on Tuesday, July 5th. They set an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.46.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the sale, the chief executive officer now directly owns 142,071 shares in the company, valued at $14,931,662.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the transaction, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The disclosure for this sale can be found here. Insiders have sold a total of 204,788 shares of company stock worth $21,776,756 over the last three months. 0.52% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.1 %

Shares of ABT stock opened at $105.78 on Thursday. The business’s 50 day moving average is $107.78 and its two-hundred day moving average is $112.43. Abbott Laboratories has a twelve month low of $101.21 and a twelve month high of $142.60. The company has a market capitalization of $185.24 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The company had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period last year, the business posted $1.17 EPS. The company’s revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 4.99 EPS for the current year.

Abbott Laboratories Profile

(Get Rating)

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.

See Also

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.

Related Posts