Abbott Laboratories (NYSE:ABT) Shares Acquired by USA Financial Formulas

USA Financial Formulas lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 191.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,251 shares of the healthcare product maker’s stock after acquiring an additional 7,396 shares during the period. Abbott Laboratories accounts for approximately 0.2% of USA Financial Formulas’ investment portfolio, making the stock its 25th biggest holding. USA Financial Formulas’ holdings in Abbott Laboratories were worth $1,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after acquiring an additional 739,260 shares in the last quarter. Capital International Investors raised its position in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Capital Research Global Investors raised its position in shares of Abbott Laboratories by 1.5% during the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock worth $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC increased its position in Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after buying an additional 765,636 shares during the period. Finally, Wellington Management Group LLP increased its position in Abbott Laboratories by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after buying an additional 581,325 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.5%

Abbott Laboratories stock opened at $134.04 on Wednesday. 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 has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a market cap of $233.21 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The stock’s 50 day moving average price is $130.82 and its 200 day moving average price is $126.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABT shares. Bank of America lifted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Raymond James lifted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Morgan Stanley lifted their price target on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company lifted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.59.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 sale, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

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.