Ossiam Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Ossiam grew its position in shares of Abbott Laboratories (NYSE:ABT) by 7.1% in the fourth quarter, HoldingsChannel reports. The firm owned 37,752 shares of the healthcare product maker’s stock after buying an additional 2,514 shares during the quarter. Ossiam’s holdings in Abbott Laboratories were worth $4,155,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC boosted its holdings in shares of Abbott Laboratories by 84.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 82,564 shares of the healthcare product maker’s stock worth $7,996,000 after purchasing an additional 37,715 shares during the period. Jump Financial LLC raised its position in Abbott Laboratories by 17.7% during the 3rd quarter. Jump Financial LLC now owns 5,236 shares of the healthcare product maker’s stock valued at $507,000 after purchasing an additional 787 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Abbott Laboratories by 11.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 71,339 shares of the healthcare product maker’s stock valued at $6,909,000 after acquiring an additional 7,273 shares in the last quarter. Nichols & Pratt Advisers LLP MA grew its holdings in Abbott Laboratories by 0.8% during the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 39,554 shares of the healthcare product maker’s stock worth $3,831,000 after acquiring an additional 300 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its holdings in shares of Abbott Laboratories by 2.1% during the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 24,993 shares of the healthcare product maker’s stock valued at $2,421,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

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 transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 3.2 %

Shares of NYSE ABT traded up $3.31 during midday trading on Friday, reaching $107.58. 8,666,641 shares of the stock were exchanged, compared to its average volume of 5,675,876. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The stock has a market capitalization of $187.15 billion, a P/E ratio of 33.51, a PEG ratio of 2.59 and a beta of 0.74. The company has a 50 day simple moving average of $106.30 and a 200 day simple moving average of $110.02. 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 (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 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 firm 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 business posted $1.03 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays decreased their price objective 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. Citigroup cut their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

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.