Neo Ivy Capital Management Invests $3.73 Million in Abbott Laboratories (NYSE:ABT)

Neo Ivy Capital Management acquired a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, Holdings Channel reports. The fund acquired 32,946 shares of the healthcare product maker’s stock, valued at approximately $3,726,000. Abbott Laboratories accounts for about 0.8% of Neo Ivy Capital Management’s portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories in the 4th quarter worth $26,000. NewSquare Capital LLC lifted its holdings in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories in the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the company’s 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 sale, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,278 shares of company stock worth $12,745,859. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. UBS Group raised their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Raymond James lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Price Performance

ABT stock opened at $131.46 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a market cap of $228.72 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.52 and a beta of 0.74. The company’s 50-day moving average price is $129.77 and its two-hundred day moving average price is $124.52.

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

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.