Buckley Wealth Management LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,839 shares of the healthcare product maker’s stock after purchasing an additional 923 shares during the quarter. Buckley Wealth Management LLC’s holdings in Abbott Laboratories were worth $410,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. IFG Advisory LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $102,000. Icon Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $102,000. SWS Partners purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $104,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $133,000. 71.71% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on ABT shares. BTIG Research lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. They noted that the move was a valuation call. Leerink Swann reissued a “market perform” rating and set a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a research note on Thursday, January 25th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $68.35.
ABT stock opened at $61.71 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $108.19 billion, a P/E ratio of 24.68, a PEG ratio of 1.77 and a beta of 1.50. Abbott Laboratories has a 1-year low of $43.01 and a 1-year high of $64.60.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. sell-side analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
In other Abbott Laboratories news, insider Roger Bird sold 8,262 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.75, for a total value of $518,440.50. Following the completion of the transaction, the insider now directly owns 58,574 shares in the company, valued at $3,675,518.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sharon J. Bracken sold 2,150 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $58.56, for a total transaction of $125,904.00. Following the completion of the transaction, the senior vice president now owns 43,990 shares of the company’s stock, valued at $2,576,054.40. The disclosure for this sale can be found here. Insiders sold 86,214 shares of company stock valued at $5,173,042 over the last quarter. 0.74% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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