Abbott Laboratories (NYSE:ABT) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,583 shares of the healthcare product maker’s stock after selling 143 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Abbott Laboratories were worth $372,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. raised its position in Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after purchasing an additional 1,120 shares during the period. Accretive Wealth Partners LLC increased its stake in shares of Abbott Laboratories by 1.2% during the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares during the period. Aveo Capital Partners LLC raised its holdings in Abbott Laboratories by 13.3% during the fourth quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after purchasing an additional 413 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after purchasing an additional 3,767 shares in the last quarter. Finally, Jump Financial LLC increased its position in shares of Abbott Laboratories by 34.3% during the 4th quarter. Jump Financial LLC now owns 7,030 shares of the healthcare product maker’s stock valued at $774,000 after purchasing an additional 1,794 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $116.40 on Friday. 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 stock has a market capitalization of $202.52 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 2.90 and a beta of 0.72. The firm has a fifty day simple moving average of $109.24 and a 200-day simple moving average of $108.73. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 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 firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the company earned $1.08 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 transaction, the chief executive officer now 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 accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABT. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Evercore ISI dropped their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

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.