Abbott Laboratories (NYSE:ABT) Shares Bought by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC boosted its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,342 shares of the healthcare product maker’s stock after buying an additional 471 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Abbott Laboratories were worth $7,522,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. increased its holdings 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 purchasing an additional 236 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $44,000. Finally, Bfsg LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday. Finally, Citigroup dropped their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Read Our Latest Stock Report on Abbott Laboratories

Insider Activity

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The stock was 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 directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded up $3.31 during trading on Friday, reaching $107.58. 8,665,274 shares of the stock were exchanged, compared to its average volume of 5,663,635. The business’s 50 day moving average price is $106.42 and its two-hundred day moving average price is $109.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $187.15 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.48 and a beta of 0.74. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 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 company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous 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, equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

About Abbott Laboratories

(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.

See Also

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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