EverSource Wealth Advisors LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

EverSource Wealth Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,697 shares of the healthcare product maker’s stock after purchasing an additional 2,328 shares during the period. EverSource Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signature Resources Capital Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at $29,000. Stuart Chaussee & Associates Inc. raised its stake in shares of Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after buying an additional 236 shares during the period. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at $37,000. Private Wealth Management Group LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at $44,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Abbott Laboratories by 79.4% in the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 in the company, valued at $2,223,060. The disclosure for this sale can be found here. In the last three months, insiders sold 46,884 shares of company stock worth $5,153,916. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of ABT traded up $1.73 during midday trading on Wednesday, reaching $104.69. The stock had a trading volume of 2,794,755 shares, compared to its average volume of 5,616,461. The company’s 50-day moving average is $108.89 and its 200 day moving average is $109.54. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $182.12 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

About Abbott Laboratories

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.