Morningstar Investment Services LLC Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Morningstar Investment Services LLC grew its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 289.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,917 shares of the healthcare product maker’s stock after purchasing an additional 7,369 shares during the quarter. Morningstar Investment Services LLC’s holdings in Abbott Laboratories were worth $1,095,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of Abbott Laboratories by 7.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 3,892,689 shares of the healthcare product maker’s stock worth $428,468,000 after acquiring an additional 265,316 shares during the last quarter. Stephens Inc. AR increased its stake in Abbott Laboratories by 1.7% in the fourth quarter. Stephens Inc. AR now owns 109,322 shares of the healthcare product maker’s stock valued at $12,033,000 after purchasing an additional 1,871 shares during the period. Pinnacle West Asset Management Inc. raised its holdings in shares of Abbott Laboratories by 2.5% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 8,255 shares of the healthcare product maker’s stock valued at $909,000 after buying an additional 200 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 137.7% during the fourth quarter. Exencial Wealth Advisors LLC now owns 136,835 shares of the healthcare product maker’s stock worth $15,061,000 after buying an additional 79,263 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Abbott Laboratories by 22,639.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,387,115 shares of the healthcare product maker’s stock worth $152,680,000 after buying an additional 1,381,015 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ABT. Raymond James reiterated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday. Citigroup dropped their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Read Our Latest Research Report on ABT

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $2.71 during midday trading on Friday, hitting $106.98. The company had a trading volume of 4,504,838 shares, compared to its average volume of 5,625,822. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The business has a 50-day simple moving average of $106.42 and a two-hundred day simple moving average of $109.92. The firm has a market capitalization of $186.11 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period last year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Profile

(Free Report)

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 company 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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