Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,832,556 shares of the healthcare product maker’s stock after selling 1,013 shares during the quarter. Abbott Laboratories makes up about 2.4% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 14th largest 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.

Several other hedge funds have also bought and sold shares of the stock. Camden National Bank grew its stake in Abbott Laboratories by 1.5% in the 4th quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock worth $844,000 after acquiring an additional 114 shares in the last quarter. Morgan Stanley grew its stake in Abbott Laboratories by 4.5% in the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock worth $3,311,209,000 after purchasing an additional 1,233,152 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in Abbott Laboratories by 3.1% during the 3rd quarter. Center for Financial Planning Inc. now owns 15,430 shares of the healthcare product maker’s stock worth $1,823,000 after purchasing an additional 471 shares during the period. New World Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth $477,000. Finally, Vident Investment Advisory LLC grew its position in shares of Abbott Laboratories by 25.3% during the 3rd quarter. Vident Investment Advisory LLC now owns 19,899 shares of the healthcare product maker’s stock worth $2,350,000 after buying an additional 4,013 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories stock traded down $0.58 during mid-day trading on Wednesday, hitting $113.19. The stock had a trading volume of 3,849,992 shares, compared to its average volume of 6,000,174. The firm has a 50-day moving average of $116.68 and a two-hundred day moving average of $123.93. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm has a market cap of $198.19 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 3.05 and a beta of 0.73. Abbott Laboratories has a 12-month low of $104.63 and a 12-month high of $142.60.

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

A number of equities research analysts recently weighed in on ABT shares. StockNews.com assumed coverage on Abbott Laboratories in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Citigroup cut their price objective on shares of Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Morgan Stanley dropped their price objective on shares of Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, January 27th. Finally, Bank of America initiated coverage on Abbott Laboratories in a research note on Tuesday, March 1st. They issued a “buy” rating and a $140.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $137.89.

In related news, SVP Randel William Woodgrift sold 964 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $118.10, for a total transaction of $113,848.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nancy Mckinstry sold 1,614 shares of the stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $116.42, for a total transaction of $187,901.88. The disclosure for this sale can be found here. Insiders sold a total of 81,034 shares of company stock worth $9,196,618 over the last three months. Insiders own 0.52% of the company’s stock.

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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