BSW Wealth Partners lifted its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,944 shares of the healthcare product maker’s stock after purchasing an additional 1,005 shares during the period. BSW Wealth Partners’ holdings in Abbott Laboratories were worth $1,209,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Scissortail Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth $1,475,747,000. Aspire Private Capital LLC acquired a new position in Abbott Laboratories in the first quarter valued at $16,271,874,000. Graham Capital Wealth Management LLC acquired a new position in Abbott Laboratories in the first quarter valued at $244,037,000. Altshuler Shaham Ltd acquired a new position in Abbott Laboratories in the fourth quarter valued at $28,000. Finally, Financial Gravity Asset Management Inc. lifted its holdings in Abbott Laboratories by 134.5% in the first quarter. Financial Gravity Asset Management Inc. now owns 258 shares of the healthcare product maker’s stock valued at $316,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.
Wall Street Analyst Weigh In
ABT has been the topic of several recent analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Barclays lifted their price target on shares of Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Wolfe Research raised shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Mizuho lifted their price target on shares of Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Finally, StockNews.com initiated coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.82.
Abbott Laboratories Trading Up 1.7 %
Shares of ABT stock opened at $102.45 on Tuesday. Abbott Laboratories has a 52-week low of $93.25 and a 52-week high of $115.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.16 and a current ratio of 1.64. The company has a 50-day simple moving average of $106.54 and a two-hundred day simple moving average of $105.19. The company has a market capitalization of $177.79 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 4.50 and a beta of 0.68.
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $9.71 billion. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 EPS. Research analysts anticipate that Abbott Laboratories will post 4.4 EPS for the current fiscal year.
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now directly owns 6,775,316 shares in the company, valued at $770,759,948.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Andrea F. Wainer sold 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $6,829,785.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the sale, the director now owns 6,775,316 shares in the company, valued at $770,759,948.16. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
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.
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