Axxcess Wealth Management LLC Increases Holdings in Abbott Laboratories (NYSE:ABT)

Axxcess Wealth Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,244 shares of the healthcare product maker’s stock after buying an additional 1,626 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Abbott Laboratories were worth $11,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hanson & Doremus Investment Management increased its position in shares of Abbott Laboratories by 0.8% during the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after buying an additional 92 shares during the period. Encompass More Asset Management raised its holdings in Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after purchasing an additional 96 shares in the last quarter. Wynn Capital LLC lifted its position in Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after buying an additional 98 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC grew its position in shares of Abbott Laboratories by 1.9% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock worth $613,000 after buying an additional 100 shares during the period. Finally, Hummer Financial Advisory Services Inc lifted its position in Abbott Laboratories by 1.2% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock valued at $942,000 after acquiring an additional 100 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 1.1 %

Shares of ABT stock opened at $117.63 on Tuesday. The company has a market capitalization of $204.63 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72. 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 company’s fifty day moving average price is $109.55 and its 200-day moving average price is $108.57. Abbott Laboratories has a one year low of $89.67 and a one 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, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. Sell-side analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Edward Jones downgraded shares of 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 target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI reduced their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Barclays boosted 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.80.

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.