Davis R M Inc. Has $3.20 Million Position in Abbott Laboratories (NYSE:ABT)

Davis R M Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,072 shares of the healthcare product maker’s stock after selling 1,825 shares during the period. Davis R M Inc.’s holdings in Abbott Laboratories were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Stuart Chaussee & Associates Inc. boosted its position in Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the period. Rise Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $37,000. Private Wealth Management Group LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $44,000. Finally, Cornerstone Planning Group LLC boosted its position in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ABT. Barclays cut 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. Citigroup dropped their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada dropped their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Finally, Raymond James restated 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.60.

Insider Buying and Selling

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

Abbott Laboratories Stock Up 1.7 %

Shares of NYSE ABT traded up $1.80 during trading on Wednesday, hitting $104.76. The stock had a trading volume of 2,659,663 shares, compared to its average volume of 5,615,484. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $182.24 billion, a PE ratio of 32.64, a PEG ratio of 2.48 and a beta of 0.76. The firm has a fifty day moving average of $108.89 and a two-hundred day moving average of $109.54.

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, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

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.