Abbott Laboratories (NYSE:ABT) is Connolly Sarah T.’s 4th Largest Position

Connolly Sarah T. reduced its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 89.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,825 shares of the healthcare product maker’s stock after selling 15,150 shares during the period. Abbott Laboratories comprises approximately 18.2% of Connolly Sarah T.’s holdings, making the stock its 4th biggest position. Connolly Sarah T.’s holdings in Abbott Laboratories were worth $201,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Perigon Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after acquiring an additional 2,317 shares during the last quarter. Boston Partners lifted its holdings in shares of Abbott Laboratories by 634.6% during the 3rd quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock worth $2,882,000 after acquiring an additional 25,707 shares during the last quarter. VisionPoint Advisory Group LLC lifted its holdings in shares of Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after acquiring an additional 11,508 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Abbott Laboratories in the fourth quarter worth $2,111,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank of Canada lowered 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. Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Evercore ISI boosted their price objective 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. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup decreased their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.60.

Check Out Our Latest Report on ABT

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,384 shares of company stock valued at $3,653,916. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.3 %

Shares of NYSE ABT traded down $0.28 on Friday, reaching $103.95. 4,455,647 shares of the company’s stock traded hands, compared to its average volume of 5,639,875. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The business’s 50 day simple moving average is $108.29 and its two-hundred day simple moving average is $109.47. The company has a market cap of $180.83 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.88 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Company Profile

(Free Report)

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.

Featured Stories

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:ABTFree Report).

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.