Abbott Laboratories (NYSE:ABT) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV boosted its holdings in Abbott Laboratories (NYSE:ABT) by 7.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 151,387 shares of the healthcare product maker’s stock after buying an additional 10,432 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Abbott Laboratories were worth $17,550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Glassman Wealth Services lifted its holdings in Abbott Laboratories by 6.2% in the second quarter. Glassman Wealth Services now owns 1,479 shares of the healthcare product maker’s stock worth $171,000 after purchasing an additional 86 shares during the period. 44 Wealth Management LLC lifted its holdings in Abbott Laboratories by 4.5% in the second quarter. 44 Wealth Management LLC now owns 2,042 shares of the healthcare product maker’s stock worth $237,000 after purchasing an additional 87 shares during the period. Intrust Bank NA lifted its holdings in Abbott Laboratories by 0.4% in the second quarter. Intrust Bank NA now owns 25,447 shares of the healthcare product maker’s stock worth $2,950,000 after purchasing an additional 89 shares during the period. Eads & Heald Wealth Management raised its position in Abbott Laboratories by 0.5% in the second quarter. Eads & Heald Wealth Management now owns 17,580 shares of the healthcare product maker’s stock worth $2,038,000 after acquiring an additional 90 shares in the last quarter. Finally, ICW Investment Advisors LLC raised its position in Abbott Laboratories by 0.4% in the second quarter. ICW Investment Advisors LLC now owns 25,519 shares of the healthcare product maker’s stock worth $2,958,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 72.05% of the company’s stock.

In other news, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $129.05, for a total transaction of $2,969,182.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael D. Dale sold 17,600 shares of the firm’s stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $120.33, for a total value of $2,117,808.00. The disclosure for this sale can be found here. Insiders sold 222,883 shares of company stock valued at $27,964,400 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Shares of ABT stock opened at $127.00 on Wednesday. Abbott Laboratories has a 12 month low of $100.34 and a 12 month high of $129.70. The firm has a market cap of $225.15 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The stock has a 50 day moving average of $123.08 and a 200-day moving average of $119.30. The company has a quick ratio of 1.36, a current ratio of 1.79 and a debt-to-equity ratio of 0.52.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.15. The company had revenue of $10.22 billion during the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. As a group, equities analysts predict that Abbott Laboratories will post 4.42 EPS for the current fiscal year.

ABT has been the topic of several recent analyst reports. BTIG Research boosted their price objective on Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Cowen boosted their price objective on Abbott Laboratories from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. Raymond James boosted their price objective on Abbott Laboratories from $116.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. SVB Leerink lifted their target price on Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research note on Tuesday, July 20th. Finally, lowered their target price on Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, June 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $128.93.

About Abbott Laboratories

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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