Mather Group LLC. Takes Position in Abbott Laboratories (NYSE:ABT)

Mather Group LLC. bought a new stake in Abbott Laboratories (NYSE:ABTGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,650 shares of the healthcare product maker’s stock, valued at approximately $2,799,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. Norges Bank bought a new position in shares of Abbott Laboratories in the 4th quarter worth $2,290,723,000. Jennison Associates LLC boosted its position in shares of Abbott Laboratories by 240.8% in the 1st quarter. Jennison Associates LLC now owns 6,052,143 shares of the healthcare product maker’s stock worth $716,332,000 after purchasing an additional 4,276,374 shares during the last quarter. BlackRock Inc. boosted its position in shares of Abbott Laboratories by 2.1% in the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after purchasing an additional 2,836,966 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 1.4% during the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock worth $17,906,500,000 after acquiring an additional 2,136,177 shares in the last quarter. Finally, State Street Corp lifted its holdings in Abbott Laboratories by 2.6% during the fourth quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after acquiring an additional 1,896,462 shares in the last quarter. 73.03% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $106.99 on Friday. The business’s 50 day moving average price is $107.90 and its two-hundred day moving average price is $112.71. The company has a market cap 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 company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46. Abbott Laboratories has a twelve month low of $101.21 and a twelve month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The company had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 4.99 EPS for the current year.

Insider Transactions at Abbott Laboratories

In related news, SVP Fernando Mateus sold 2,457 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total value of $267,935.85. Following the completion of the sale, the senior vice president now directly owns 14,503 shares in the company, valued at $1,581,552.15. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Robert B. Ford sold 102,425 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was 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 $14,931,662.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Fernando Mateus sold 2,457 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total value of $267,935.85. Following the sale, the senior vice president now owns 14,503 shares of the company’s stock, valued at $1,581,552.15. The disclosure for this sale can be found here. Insiders sold a total of 181,780 shares of company stock worth $19,314,900 over the last quarter. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ABT shares. Cowen reduced their target price on Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. Citigroup reduced their target price on Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, July 21st. Cowen dropped their price target on Abbott Laboratories from $150.00 to $130.00 in a research note on Wednesday, July 13th. BTIG Research dropped their price target on Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. Finally, Royal Bank of Canada dropped their price target on Abbott Laboratories from $143.00 to $132.00 in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $132.46.

Abbott Laboratories Company Profile

(Get Rating)

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.

See Also

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

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