Glassman Wealth Services Buys 264 Shares of Abbott Laboratories (NYSE:ABT)

Glassman Wealth Services lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,685 shares of the healthcare product maker’s stock after purchasing an additional 264 shares during the quarter. Glassman Wealth Services’ holdings in Abbott Laboratories were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Rise Advisors LLC bought a new position in Abbott Laboratories in the fourth quarter valued at about $37,000. Stuart Chaussee & Associates Inc. grew its holdings in shares of Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC increased 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. Finally, Private Wealth Management Group LLC bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $44,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Barclays decreased 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 report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Finally, Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.60.

Abbott Laboratories Trading Down 0.3 %

Shares of Abbott Laboratories stock traded down $0.28 on Friday, reaching $103.95. 4,455,866 shares of the company’s stock were exchanged, compared to its average volume of 5,510,455. The firm’s 50-day moving average is $108.08 and its two-hundred day moving average is $109.63. The company has a market capitalization of $180.83 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.88 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories 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 completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories 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 transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,384 shares of company stock worth $3,653,916. Corporate insiders own 1.10% of the company’s stock.

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.