Abbott Laboratories (NYSE:ABT) Stock Position Lifted by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,148 shares of the healthcare product maker’s stock after purchasing an additional 34,031 shares during the quarter. Abbott Laboratories accounts for approximately 0.7% of NewEdge Advisors LLC’s holdings, making the stock its 21st largest position. NewEdge Advisors LLC’s holdings in Abbott Laboratories were worth $43,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bourgeon Capital Management LLC bought a new position in shares of Abbott Laboratories in the first quarter worth $30,000. Dravo Bay LLC bought a new position in Abbott Laboratories during the first quarter valued at about $32,000. Delos Wealth Advisors LLC boosted its stake in Abbott Laboratories by 100.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Holloway Wealth Management LLC boosted its stake in Abbott Laboratories by 175.0% during the first quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 175 shares in the last quarter. Finally, Monumental Financial Group Inc. bought a new position in Abbott Laboratories during the first quarter valued at about $38,000. Institutional investors own 73.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Erste Group Bank cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Evercore ISI decreased their price target on Abbott Laboratories to $112.00 in a research report on Friday, July 22nd. StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 3rd. Wolfe Research started coverage on Abbott Laboratories in a research report on Tuesday, July 5th. They issued an “underperform” rating for the company. Finally, Citigroup decreased their price target on Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.46.

Abbott Laboratories Stock Up 2.2 %

ABT opened at $106.99 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.01 and a quick ratio of 1.54. The company has a market capitalization of $187.36 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 3.81 and a beta of 0.72. The business has a 50-day moving average of $107.90 and a 200-day moving average of $112.71. Abbott Laboratories has a fifty-two week low of $101.21 and a fifty-two week high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its quarterly earnings data 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. The business had revenue of $11.26 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the transaction, the chief executive officer now owns 142,071 shares of the company’s stock, valued at approximately $14,931,662.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Joseph J. Manning sold 26,898 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.03, for a total value of $2,825,096.94. Following the sale, the executive vice president now owns 53,245 shares of the company’s stock, valued at approximately $5,592,322.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert B. Ford sold 102,425 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total value of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares in the company, valued at approximately $14,931,662.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,780 shares of company stock valued at $19,314,900. Insiders own 0.52% of the company’s stock.

About Abbott Laboratories

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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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