Davidson Investment Advisors Has $558,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Davidson Investment Advisors lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 11.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,810 shares of the healthcare product maker’s stock after selling 630 shares during the quarter. Davidson Investment Advisors’ holdings in Abbott Laboratories were worth $558,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Glassman Wealth Services increased its position in shares of Abbott Laboratories by 6.2% during the 2nd quarter. Glassman Wealth Services now owns 1,479 shares of the healthcare product maker’s stock worth $171,000 after purchasing an additional 86 shares in the last quarter. 44 Wealth Management LLC increased its position in shares of Abbott Laboratories by 4.5% during the 2nd quarter. 44 Wealth Management LLC now owns 2,042 shares of the healthcare product maker’s stock worth $237,000 after purchasing an additional 87 shares in the last quarter. Intrust Bank NA increased its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Intrust Bank NA now owns 25,447 shares of the healthcare product maker’s stock worth $2,950,000 after purchasing an additional 89 shares in the last quarter. Eads & Heald Wealth Management increased its position in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Eads & Heald Wealth Management now owns 17,580 shares of the healthcare product maker’s stock worth $2,038,000 after purchasing an additional 90 shares in the last quarter. Finally, ICW Investment Advisors LLC increased its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. ICW Investment Advisors LLC now owns 25,519 shares of the healthcare product maker’s stock worth $2,958,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 72.05% of the company’s stock.

Shares of NYSE ABT traded down $0.13 during mid-day trading on Wednesday, hitting $126.92. The company’s stock had a trading volume of 21,815 shares, compared to its average volume of 5,376,956. The stock has a market cap of $225.01 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. Abbott Laboratories has a one year low of $100.34 and a one year high of $129.70. The company’s fifty day simple moving average is $123.08 and its 200-day simple moving average is $119.30.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.15. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. During the same quarter last year, the firm earned $0.57 EPS. Abbott Laboratories’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, sell-side analysts predict that Abbott Laboratories will post 4.42 EPS for the current year.

In other Abbott Laboratories news, SVP Sammy Karam sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,812,500.00. Following the sale, the executive vice president now owns 54,282 shares in the company, valued at $6,785,250. The disclosure for this sale can be found here. Insiders have sold a total of 222,883 shares of company stock worth $27,964,400 in the last three months. 1.50% of the stock is owned by insiders.

A number of brokerages have commented on ABT. Credit Suisse Group increased their price objective on shares of Abbott Laboratories from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Cowen increased their price objective on shares of Abbott Laboratories from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. Zacks Investment Research raised shares of Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price objective on the stock in a report on Tuesday, August 3rd. Barclays decreased their price objective on shares of Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. Finally, SVB Leerink increased their price objective on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Tuesday, July 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $128.93.

Abbott Laboratories Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

Further Reading: What are the advantages to having securities held in street name?

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

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.