Old West Investment Management LLC Has $1.97 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Old West Investment Management LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 21.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,976 shares of the healthcare product maker’s stock after buying an additional 3,389 shares during the period. Old West Investment Management LLC’s holdings in Abbott Laboratories were worth $1,972,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories in the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the first quarter valued at about $30,000. Finally, True Wealth Design LLC grew its holdings in shares of Abbott Laboratories by 1,677.8% during 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 last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup lifted their price target 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. Royal Bank of Canada reissued 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 cut their target price 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 issued a “buy” rating and a $121.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

ABT stock opened at $117.63 on Tuesday. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. 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 50-day moving average price of $109.55 and a 200-day moving average price of $108.57. The firm has a market cap of $204.63 billion, a PE ratio of 36.64, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion during 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 firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current 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.