Birch Capital Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,423 shares of the healthcare product maker’s stock after selling 176 shares during the quarter. Birch Capital Management LLC’s holdings in Abbott Laboratories were worth $373,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Fairfield Bush & CO. bought a new position in shares of Abbott Laboratories in the 1st quarter valued at about $131,000. United Bank boosted its stake in Abbott Laboratories by 7.2% in the first quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after acquiring an additional 1,826 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Abbott Laboratories by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after acquiring an additional 15,521 shares during the period. Kinneret Advisory LLC raised its position in shares of Abbott Laboratories by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after acquiring an additional 436 shares during the last quarter. Finally, Lumature Wealth Partners LLC lifted its stake in shares of Abbott Laboratories by 636.2% in the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after purchasing an additional 1,915 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Wolfe Research upgraded Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays lifted their price target on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. StockNews.com began coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Mizuho upped their price target on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.82.
Insider Activity at Abbott Laboratories
In other news, EVP Andrea F. Wainer sold 10,400 shares of the business’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 value of $1,092,312.00. Following the completion of the transaction, 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 available through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 10,400 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $6,829,785.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on 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 completion of the transaction, the director now owns 6,775,316 shares in the company, valued at approximately $770,759,948.16. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Abbott Laboratories Trading Down 0.7 %
Shares of Abbott Laboratories stock opened at $100.99 on Tuesday. Abbott Laboratories has a 1 year low of $93.25 and a 1 year high of $115.83. The company has a market capitalization of $175.25 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 4.54 and a beta of 0.68. The business has a fifty day simple moving average of $106.17 and a two-hundred day simple moving average of $105.24. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.64 and a quick ratio of 1.16.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced 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. The firm had revenue of $9.98 billion for the quarter, compared to analyst estimates of $9.71 billion. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 EPS. Research analysts forecast that Abbott Laboratories will post 4.4 EPS for the current year.
Abbott Laboratories Profile
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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