Abbott Laboratories (NYSE:ABT) Stake Decreased by Crawford Investment Counsel Inc.

Crawford Investment Counsel Inc. cut its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,137 shares of the healthcare product maker’s stock after selling 379 shares during the period. Crawford Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $4,040,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Tennessee Valley Asset Management Partners raised its holdings in shares of Abbott Laboratories by 0.4% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 20,487 shares of the healthcare product maker’s stock worth $2,883,000 after buying an additional 83 shares in the last quarter. Greytown Advisors Inc. grew its stake in shares of Abbott Laboratories by 1.6% during the 4th quarter. Greytown Advisors Inc. now owns 5,393 shares of the healthcare product maker’s stock worth $759,000 after acquiring an additional 84 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its position in shares of Abbott Laboratories by 3.3% in the fourth 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 last quarter. Oldfather Financial Services LLC raised its holdings in shares of Abbott Laboratories by 3.6% in the 4th quarter. Oldfather Financial Services LLC now owns 2,479 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 85 shares during the period. Finally, Keystone Wealth Services LLC increased its position in Abbott Laboratories by 1.5% during the first quarter. Keystone Wealth Services LLC now owns 6,050 shares of the healthcare product maker’s stock worth $716,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 73.03% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $108.48 on Friday. The firm has a fifty day simple moving average of $107.86 and a two-hundred day simple moving average of $112.61. The firm has a market cap of $189.97 billion, a PE ratio of 22.65, a P/E/G ratio of 3.96 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 has a 1-year low of $101.21 and a 1-year high of $142.60.

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

Analysts Set New Price Targets

ABT has been the subject of several research reports. BTIG Research cut their price objective on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Cowen dropped their price target on Abbott Laboratories from $150.00 to $130.00 in a research note on Wednesday, July 13th. Wolfe Research assumed coverage on Abbott Laboratories in a research note on Tuesday, July 5th. They issued an “underperform” rating on the stock. Citigroup cut their target price on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. Finally, StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $132.46.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value 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 approximately $755,630,790. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Abbott Laboratories news, SVP Fernando Mateus sold 2,457 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total value of $267,935.85. Following the completion of the sale, the senior vice president now directly owns 14,503 shares in the company, valued at $1,581,552.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the transaction, the director now owns 6,923,500 shares in the company, valued at approximately $755,630,790. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,788 shares of company stock valued at $21,776,756. Company insiders own 0.52% of the company’s stock.

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.

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

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