Thrive Wealth Management LLC Has $354,000 Stake in Abbott Laboratories (NYSE:ABT)

Thrive Wealth Management LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,249 shares of the healthcare product maker’s stock after purchasing an additional 146 shares during the period. Thrive Wealth Management LLC’s holdings in Abbott Laboratories were worth $354,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of Abbott Laboratories by 104,649.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after buying an additional 30,218,560 shares during the last quarter. Norges Bank purchased a new position in Abbott Laboratories in the fourth quarter valued at approximately $1,893,715,000. Wellington Management Group LLP lifted its stake in Abbott Laboratories by 40.5% in the first quarter. Wellington Management Group LLP now owns 20,820,152 shares of the healthcare product maker’s stock valued at $2,108,249,000 after purchasing an additional 6,003,997 shares during the last quarter. Morgan Stanley lifted its stake in Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after purchasing an additional 4,886,954 shares during the last quarter. Finally, Providence Capital Advisors LLC lifted its stake in Abbott Laboratories by 9,803.3% in the first quarter. Providence Capital Advisors LLC now owns 4,767,458 shares of the healthcare product maker’s stock valued at $47,081,000 after purchasing an additional 4,719,318 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $100.99 on Tuesday. The company has a 50-day simple moving average of $106.17 and a two-hundred day simple moving average of $105.24. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $115.83. The firm has a market cap of $175.25 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 4.58 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.03. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $9.71 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 4.4 EPS for the current year.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $6,829,785.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the sale, the director now directly owns 6,775,316 shares in the company, valued at $770,759,948.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ABT shares. Wolfe Research raised shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Mizuho boosted their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Barclays upped their price target on shares of Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Finally, StockNews.com assumed coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.82.

Abbott Laboratories Profile

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 Established Pharmaceutical Products segment 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.