Moors & Cabot Inc. Has $6.07 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Moors & Cabot Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,419 shares of the healthcare product maker’s stock after buying an additional 1,237 shares during the quarter. Moors & Cabot Inc.’s holdings in Abbott Laboratories were worth $6,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares in the last quarter. Capital Research Global Investors lifted its stake in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares in the last quarter. Capital International Investors boosted its holdings in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the period. Swedbank AB bought a new stake in shares of Abbott Laboratories during the first quarter worth $341,777,000. Finally, Assenagon Asset Management S.A. lifted its position in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after acquiring an additional 1,996,320 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABT. Barclays increased their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group started coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Citigroup increased their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Price Performance

Shares of ABT opened at $117.63 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $109.55 and its 200 day simple moving average is $108.57. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a market cap of $204.63 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the firm earned $1.08 EPS. Abbott Laboratories’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

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.