Abbott Laboratories (NYSE:ABT) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,666 shares of the healthcare product maker’s stock after selling 917 shares during the period. Wealthspire Advisors LLC’s holdings in Abbott Laboratories were worth $3,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the first quarter worth approximately $30,000. Finally, True Wealth Design LLC boosted its holdings in 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 valued at $35,000 after purchasing an additional 302 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Abbott Laboratories 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 completion of 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $116.40 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market cap of $202.52 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The firm’s fifty day moving average price is $109.24 and its 200 day moving average price is $108.65. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period in the previous year, the business posted $1.08 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABT. 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 research report on Thursday, August 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI reduced their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group began coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.