WealthPLAN Partners LLC Trims Stock Position in Abbott Laboratories (NYSE:ABT)

WealthPLAN Partners LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 53.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,845 shares of the healthcare product maker’s stock after selling 37,483 shares during the period. WealthPLAN Partners LLC’s holdings in Abbott Laboratories were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ABT. Gilbert & Cook Inc. increased its position in shares of Abbott Laboratories by 17.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after purchasing an additional 1,120 shares during the last quarter. Accretive Wealth Partners LLC increased its position in shares of Abbott Laboratories by 1.2% during the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares during the last quarter. Aveo Capital Partners LLC raised its stake in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after acquiring an additional 413 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock worth $12,252,000 after purchasing an additional 3,767 shares during the period. Finally, Jump Financial LLC increased its holdings in Abbott Laboratories by 34.3% in the 4th quarter. Jump Financial LLC now owns 7,030 shares of the healthcare product maker’s stock valued at $774,000 after purchasing an additional 1,794 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ABT shares. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Evercore ISI dropped their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Two equities research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Stock Up 1.1 %

Abbott Laboratories stock opened at $117.63 on Tuesday. The stock’s fifty day moving average is $109.55 and its two-hundred day moving average is $108.57. The stock has a market cap of $204.63 billion, a PE ratio of 36.64, a P/E/G ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

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.