Abbott Laboratories (NYSE:ABT) Shares Acquired by InterOcean Capital Group LLC

InterOcean Capital Group LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,712 shares of the healthcare product maker’s stock after acquiring an additional 930 shares during the quarter. InterOcean Capital Group LLC’s holdings in Abbott Laboratories were worth $7,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC increased its position in shares of Abbott Laboratories by 5.2% during the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after acquiring an additional 2,317 shares during the last quarter. Boston Partners grew its stake in Abbott Laboratories by 634.6% in the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock worth $2,882,000 after purchasing an additional 25,707 shares in the last quarter. VisionPoint Advisory Group LLC grew its stake in Abbott Laboratories by 7.4% in the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares in the last quarter. Gradient Investments LLC grew its stake in Abbott Laboratories by 4.7% in the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after purchasing an additional 11,508 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $2,111,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded up $1.69 during midday trading on Wednesday, reaching $104.65. 2,843,535 shares of the company’s stock were exchanged, compared to its average volume of 5,616,461. The firm has a market capitalization of $182.05 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76. The business has a 50-day simple moving average of $108.89 and a two-hundred day simple moving average of $109.54. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup reduced their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada lowered their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.60.

Insider Transactions at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,884 shares of company stock valued at $5,153,916 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories 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.