Blair William & Co. IL Sells 26,316 Shares of Abbott Laboratories (NYSE:ABT)

Blair William & Co. IL trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,747,920 shares of the healthcare product maker’s stock after selling 26,316 shares during the period. Blair William & Co. IL owned 0.10% of Abbott Laboratories worth $181,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth $28,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories in the 4th quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. Finally, True Wealth Design LLC increased its stake in shares of Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABT. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. 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 research note on Tuesday, July 2nd. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Citigroup boosted their price objective 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. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. 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 MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $118.13 on Wednesday. The firm has a market cap of $205.50 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The firm’s 50-day simple moving average is $109.88 and its 200-day simple moving average is $108.56. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

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, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the firm posted $1.08 EPS. Abbott Laboratories’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

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.