Abbott Laboratories (NYSE:ABT) Shares Acquired by Fluent Financial LLC

Fluent Financial LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 217.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,217 shares of the healthcare product maker’s stock after buying an additional 15,210 shares during the quarter. Abbott Laboratories makes up about 1.3% of Fluent Financial LLC’s investment portfolio, making the stock its 21st largest holding. Fluent Financial LLC’s holdings in Abbott Laboratories were worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cim LLC lifted its position in shares of Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after buying an additional 73 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 76 shares during the last quarter. Capital Square LLC lifted its position in shares of Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after buying an additional 77 shares during the last quarter. Cyrus J. Lawrence LLC lifted its position in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after buying an additional 79 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC lifted its position in shares of Abbott Laboratories by 2.9% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.5%

NYSE ABT opened at $132.99 on Thursday. The business has a 50 day simple moving average of $130.69 and a 200 day simple moving average of $125.54. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The stock has a market capitalization of $231.38 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.52 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 1.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Citigroup upped their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Morgan Stanley upped their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Finally, The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

About Abbott Laboratories

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.