Delaney Dennis R Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Delaney Dennis R boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 58,921 shares of the healthcare product maker’s stock after purchasing an additional 620 shares during the period. Abbott Laboratories makes up 3.8% of Delaney Dennis R’s holdings, making the stock its 10th largest holding. Delaney Dennis R’s holdings in Abbott Laboratories were worth $6,485,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Stuart Chaussee & Associates Inc. grew its stake in Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares in the last quarter. Rise Advisors LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $37,000. Private Wealth Management Group LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $44,000. Finally, Bfsg LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 3.2 %

ABT stock traded up $3.31 during trading on Friday, hitting $107.58. 8,666,641 shares of the stock traded hands, compared to its average volume of 5,675,876. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm’s 50 day moving average is $106.30 and its two-hundred day moving average is $109.97. The stock has a market cap of $187.15 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.88 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were 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 in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly 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 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.