Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stake in Abbott Laboratories (NYSE:ABT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,832,556 shares of the healthcare product maker’s stock after selling 1,013 shares during the period. Abbott Laboratories comprises about 2.4% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 14th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.10% of Abbott Laboratories worth $257,914,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aureus Asset Management LLC raised its holdings in shares of Abbott Laboratories by 6.4% in the 4th quarter. Aureus Asset Management LLC now owns 49,868 shares of the healthcare product maker’s stock worth $7,018,000 after purchasing an additional 2,997 shares during the period. HBK Investments L P purchased a new position in Abbott Laboratories in the 4th quarter valued at approximately $1,280,000. Rowland & Co. Investment Counsel ADV lifted its position in shares of Abbott Laboratories by 3.3% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 2,625 shares of the healthcare product maker’s stock worth $369,000 after acquiring an additional 85 shares in the last quarter. Clearstead Advisors LLC grew its stake in Abbott Laboratories by 2.6% during the fourth quarter. Clearstead Advisors LLC now owns 89,578 shares of the healthcare product maker’s stock valued at $12,607,000 after acquiring an additional 2,299 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Abbott Laboratories by 4.6% in the 4th quarter. Blair William & Co. IL now owns 1,900,866 shares of the healthcare product maker’s stock valued at $267,528,000 after purchasing an additional 83,276 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 456 shares of the business’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $118.13, for a total transaction of $53,867.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nancy Mckinstry sold 1,614 shares of the firm’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $116.42, for a total value of $187,901.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,034 shares of company stock worth $9,196,618. Company insiders own 0.52% of the company’s stock.

ABT has been the subject of a number of research reports. StockNews.com assumed coverage on shares of Abbott Laboratories in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Citigroup decreased their price target on shares of Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Raymond James cut their price objective on shares of Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Finally, Royal Bank of Canada lowered their price target on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $137.89.

Shares of NYSE ABT traded down $0.58 during midday trading on Wednesday, reaching $113.19. The company had a trading volume of 3,849,992 shares, compared to its average volume of 6,000,174. The stock has a market cap of $198.19 billion, a P/E ratio of 26.26, a P/E/G ratio of 3.05 and a beta of 0.73. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 1 year low of $104.63 and a 1 year high of $142.60. The business’s 50-day simple moving average is $116.68 and its 200 day simple moving average is $123.93.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts predict that Abbott Laboratories will post 4.7 earnings per share for the current year.

Abbott Laboratories Profile (Get Rating)

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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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