Abbott Laboratories (NYSE:ABT) Stake Trimmed by Oak Family Advisors LLC

Oak Family Advisors LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,973 shares of the healthcare product maker’s stock after selling 501 shares during the quarter. Oak Family Advisors LLC’s holdings in Abbott Laboratories were worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ABT. Tallon Kerry Patrick purchased a new position in Abbott Laboratories during the 4th quarter valued at about $200,000. LaFleur & Godfrey LLC increased its stake in Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after buying an additional 15,692 shares during the period. Brighton Jones LLC lifted its position in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,120,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $316,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.1%

Shares of Abbott Laboratories stock opened at $133.41 on Tuesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company’s fifty day simple moving average is $130.77 and its 200-day simple moving average is $126.01. The company has a market cap of $232.11 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABT. Raymond James lifted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Morgan Stanley lifted their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Wall Street Zen lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Company Profile

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.