Sand Hill Global Advisors LLC Has $7.96 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Sand Hill Global Advisors LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,627 shares of the healthcare product maker’s stock after buying an additional 628 shares during the period. Sand Hill Global Advisors LLC’s holdings in Abbott Laboratories were worth $7,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Moneta Group Investment Advisors LLC grew its stake in Abbott Laboratories by 104,649.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock valued at $3,320,866,000 after purchasing an additional 30,218,560 shares in the last quarter. Norges Bank purchased a new position in Abbott Laboratories in the fourth quarter valued at about $1,893,715,000. Wellington Management Group LLP grew its stake in Abbott Laboratories by 40.5% in the first quarter. Wellington Management Group LLP now owns 20,820,152 shares of the healthcare product maker’s stock valued at $2,108,249,000 after purchasing an additional 6,003,997 shares in the last quarter. Morgan Stanley grew its stake in Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after purchasing an additional 4,886,954 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Abbott Laboratories by 83.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock worth $582,924,000 after acquiring an additional 2,235,314 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABT shares. Mizuho upped their price target on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. StockNews.com started coverage on Abbott Laboratories in a research note on Thursday, August 17th. They set a “buy” rating for the company. Morgan Stanley reiterated an “equal weight” rating and set a $112.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Wolfe Research upgraded Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Finally, Barclays increased their target price on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.82.

Abbott Laboratories Trading Up 0.1 %

Abbott Laboratories stock opened at $100.74 on Friday. Abbott Laboratories has a 12 month low of $93.25 and a 12 month high of $115.83. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $106.64 and a two-hundred day moving average price of $105.16. The stock has a market cap of $174.82 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 4.54 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The business had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $9.71 billion. During the same period in the prior year, the firm posted $1.43 EPS. Abbott Laboratories’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.4 EPS for the current year.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the sale, the director now directly owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

About Abbott Laboratories

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.