Abbott Laboratories (ABT) Shares Sold by Chicago Equity Partners LLC

Chicago Equity Partners LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 52.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,343 shares of the healthcare product maker’s stock after selling 3,730 shares during the quarter. Chicago Equity Partners LLC’s holdings in Abbott Laboratories were worth $200,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABT. Somerset Trust Co raised its stake in Abbott Laboratories by 2.6% in the 4th quarter. Somerset Trust Co now owns 33,979 shares of the healthcare product maker’s stock valued at $1,939,000 after acquiring an additional 851 shares during the period. Rench Wealth Management Inc. raised its stake in Abbott Laboratories by 1.8% in the 4th quarter. Rench Wealth Management Inc. now owns 48,149 shares of the healthcare product maker’s stock valued at $2,748,000 after acquiring an additional 863 shares during the period. Rehmann Capital Advisory Group raised its stake in Abbott Laboratories by 11.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 8,886 shares of the healthcare product maker’s stock valued at $507,000 after acquiring an additional 892 shares during the period. Reik & CO. LLC raised its stake in Abbott Laboratories by 17.3% in the 4th quarter. Reik & CO. LLC now owns 6,115 shares of the healthcare product maker’s stock valued at $349,000 after acquiring an additional 900 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in Abbott Laboratories by 3.2% in the 4th quarter. Douglas Lane & Associates LLC now owns 29,801 shares of the healthcare product maker’s stock valued at $1,701,000 after acquiring an additional 928 shares during the period. 72.09% of the stock is currently owned by institutional investors.

In other news, insider Jaime Contreras sold 849 shares of the business’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $59.36, for a total transaction of $50,396.64. Following the completion of the transaction, the insider now owns 50,436 shares of the company’s stock, valued at $2,993,880.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 3,000 shares of the business’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $61.20, for a total value of $183,600.00. Following the transaction, the insider now directly owns 95,581 shares of the company’s stock, valued at approximately $5,849,557.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,516 shares of company stock worth $1,976,970. Company insiders own 0.74% of the company’s stock.

Shares of ABT opened at $61.39 on Wednesday. Abbott Laboratories has a twelve month low of $43.40 and a twelve month high of $64.60. The stock has a market cap of $108.89 billion, a PE ratio of 24.56, a P/E/G ratio of 1.78 and a beta of 1.50. The company has a current ratio of 1.66, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a return on equity of 14.54% and a net margin of 1.67%. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. sell-side analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on ABT. Wells Fargo & Co boosted their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Citigroup boosted their price objective on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Barclays boosted their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus boosted their price objective on Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $68.35.

Abbott Laboratories 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.

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:ABT).

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.



Leave a Reply