Wintrust Investments LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 19,970 shares of the healthcare product maker’s stock after selling 1,672 shares during the period. Wintrust Investments LLC’s holdings in Abbott Laboratories were worth $2,315,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. 4Thought Financial Group Inc. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $25,000. Holloway Wealth Management LLC boosted its holdings in Abbott Laboratories by 150.0% during the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. Sierra Capital LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $30,000. CKW Financial Group purchased a new position in Abbott Laboratories during the 2nd quarter worth $36,000. Finally, Isthmus Partners LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 72.05% of the company’s stock.
ABT has been the topic of several recent research reports. Credit Suisse Group upped their price objective on shares of Abbott Laboratories from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. SVB Leerink upped their price objective on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 20th. Cowen increased their price target on shares of Abbott Laboratories from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, August 23rd. BTIG Research increased their price objective on Abbott Laboratories from $126.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, August 31st. Finally, Barclays dropped their price target on Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, June 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $128.93.
Shares of ABT stock traded up $0.42 during mid-day trading on Wednesday, reaching $127.47. The stock had a trading volume of 70,509 shares, compared to its average volume of 5,376,956. The business’s fifty day moving average is $123.08 and its 200-day moving average is $119.30. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $225.98 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 2.45 and a beta of 0.66. Abbott Laboratories has a 1-year low of $100.34 and a 1-year high of $129.70.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 EPS for the quarter, topping the consensus estimate of $1.02 by $0.15. The firm had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. Abbott Laboratories’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, analysts forecast that Abbott Laboratories will post 4.42 earnings per share for the current year.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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