Orion Portfolio Solutions LLC Sells 2,775 Shares of Abbott Laboratories (NYSE:ABT)

Orion Portfolio Solutions LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,246 shares of the healthcare product maker’s stock after selling 2,775 shares during the period. Orion Portfolio Solutions LLC’s holdings in Abbott Laboratories were worth $13,740,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Stuart Chaussee & Associates Inc. raised its stake in shares of Abbott Laboratories by 236.0% in the 4th 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 in the last quarter. Rise Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $37,000. Private Wealth Management Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth about $44,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after purchasing an additional 201 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE ABT traded down $0.28 during mid-day trading on Friday, hitting $103.95. The company’s stock had a trading volume of 4,455,866 shares, compared to its average volume of 5,510,455. The stock has a market cap of $180.83 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.51 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company’s fifty day simple moving average is $108.08 and its 200-day simple moving average is $109.53.

Abbott Laboratories (NYSE:ABT) last announced its quarterly 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. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold 34,384 shares of company stock worth $3,653,916 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. Raymond James reiterated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. 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 report on Monday, April 22nd. 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 report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.60.

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.