SYSTM Wealth Solutions LLC Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

SYSTM Wealth Solutions LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 54.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,752 shares of the healthcare product maker’s stock after selling 26,781 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Abbott Laboratories were worth $2,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meridian Wealth Partners LLC grew its holdings in shares of Abbott Laboratories by 3.1% in the second quarter. Meridian Wealth Partners LLC now owns 3,355 shares of the healthcare product maker’s stock valued at $349,000 after purchasing an additional 102 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of Abbott Laboratories by 12.8% in the second quarter. E Fund Management Co. Ltd. now owns 12,487 shares of the healthcare product maker’s stock valued at $1,298,000 after purchasing an additional 1,413 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Abbott Laboratories by 9.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 508,812 shares of the healthcare product maker’s stock valued at $52,871,000 after purchasing an additional 43,764 shares in the last quarter. Financial & Tax Architects LLC boosted its stake in Abbott Laboratories by 9.0% during the second quarter. Financial & Tax Architects LLC now owns 56,553 shares of the healthcare product maker’s stock worth $5,876,000 after buying an additional 4,672 shares during the period. Finally, Axxcess Wealth Management LLC boosted its stake in Abbott Laboratories by 1.5% during the second quarter. Axxcess Wealth Management LLC now owns 113,244 shares of the healthcare product maker’s stock worth $11,767,000 after buying an additional 1,626 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on ABT shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays lifted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Activity 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

ABT stock opened at $118.13 on Wednesday. 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 business has a 50-day moving average price of $109.88 and a 200 day moving average price of $108.56. The company has a market capitalization of $205.50 billion, a P/E ratio of 36.80, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm 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 quarterly revenue 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 forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

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.