Central Valley Advisors LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

Central Valley Advisors LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the fourth quarter, Holdings Channel reports. The fund purchased 3,030 shares of the healthcare product maker’s stock, valued at approximately $334,000.

A number of other institutional investors have also recently made changes to their positions in ABT. WealthPlan Investment Management LLC grew its holdings in shares of Abbott Laboratories by 84.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 82,564 shares of the healthcare product maker’s stock valued at $7,996,000 after purchasing an additional 37,715 shares during the last quarter. SageView Advisory Group LLC boosted its position in Abbott Laboratories by 1.0% during the 3rd quarter. SageView Advisory Group LLC now owns 11,386 shares of the healthcare product maker’s stock valued at $1,103,000 after buying an additional 115 shares during the period. SteelPeak Wealth LLC boosted its position in Abbott Laboratories by 214.2% during the 3rd quarter. SteelPeak Wealth LLC now owns 6,503 shares of the healthcare product maker’s stock valued at $630,000 after buying an additional 4,433 shares during the period. Certuity LLC boosted its position in Abbott Laboratories by 7.2% during the 3rd quarter. Certuity LLC now owns 4,851 shares of the healthcare product maker’s stock valued at $470,000 after buying an additional 324 shares during the period. Finally, MGO One Seven LLC boosted its position in Abbott Laboratories by 4.8% during the 3rd quarter. MGO One Seven LLC now owns 18,222 shares of the healthcare product maker’s stock valued at $1,765,000 after buying an additional 834 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock traded up $1.82 during trading on Wednesday, hitting $104.78. 3,376,700 shares of the company’s stock traded hands, compared to its average volume of 5,621,951. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The business has a fifty day simple moving average of $108.89 and a 200 day simple moving average of $109.54. The stock has a market capitalization of $182.28 billion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 2.48 and a beta of 0.76.

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

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,884 shares of company stock valued at $5,153,916. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ABT shares. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.60.

Abbott Laboratories Company 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 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.