CENTRAL TRUST Co Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

CENTRAL TRUST Co trimmed its position in Abbott Laboratories (NYSE:ABTFree Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,710 shares of the healthcare product maker’s stock after selling 2,205 shares during the period. CENTRAL TRUST Co’s holdings in Abbott Laboratories were worth $18,721,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after purchasing an additional 701,740 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares during the period. Capital International Investors boosted its stake in shares of Abbott Laboratories by 2.3% in the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after buying an additional 1,457,847 shares in the last quarter. Wellington Management Group LLP raised its position in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after acquiring an additional 1,027,390 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Abbott Laboratories by 1.5% in the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after acquiring an additional 343,559 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.2 %

Shares of Abbott Laboratories stock traded down $0.25 during trading hours on Tuesday, reaching $102.96. 4,388,874 shares of the company’s stock were exchanged, compared to its average volume of 5,646,675. The firm has a market capitalization of $179.11 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 2.50 and a beta of 0.76. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a fifty day moving average of $108.89 and a 200-day moving average of $109.54.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same period last year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Insider Activity

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders sold 46,884 shares of company stock valued at $5,153,916 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup upped their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Barclays cut their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Finally, Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $121.50.

Get Our Latest Analysis on ABT

About Abbott Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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