Abbott Laboratories (NYSE:ABT) Shares Sold by Cheviot Value Management LLC

Cheviot Value Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 3.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,918 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Cheviot Value Management LLC’s holdings in Abbott Laboratories were worth $1,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in shares of Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after purchasing an additional 7,527,778 shares during the last quarter. Capital International Investors grew its position in shares of Abbott Laboratories by 2.3% in the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after purchasing an additional 1,457,847 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Abbott Laboratories by 4.3% in the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares during the last quarter. Northern Trust Corp grew its position in shares of Abbott Laboratories by 1.5% in the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after purchasing an additional 343,559 shares during the last quarter. Finally, Norges Bank acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $2,115,836,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Citigroup decreased their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays cut their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.64.

Check Out Our Latest Stock Analysis on ABT

Abbott Laboratories Trading Up 0.2 %

Shares of ABT stock traded up $0.23 during mid-day trading on Monday, reaching $107.81. The company’s stock had a trading volume of 3,607,847 shares, compared to its average volume of 5,645,136. The company’s 50 day simple moving average is $106.30 and its 200-day simple moving average is $110.07. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $187.55 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74.

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

Insider Activity at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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.

See Also

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:ABTFree Report).

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.