Formidable Asset Management LLC Acquires 524 Shares of Abbott Laboratories (NYSE:ABT)

Formidable Asset Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 5.1% in the fourth quarter, Holdings Channel reports. The firm owned 10,774 shares of the healthcare product maker’s stock after purchasing an additional 524 shares during the period. Formidable Asset Management LLC’s holdings in Abbott Laboratories were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ABT. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after acquiring an additional 739,260 shares during the period. Capital International Investors raised its holdings in shares of Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock valued at $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock valued at $4,023,027,000 after acquiring an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock valued at $2,985,233,000 after acquiring an additional 581,325 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $131.31 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm’s 50-day moving average is $129.87 and its 200 day moving average is $124.62. The stock has a market cap of $228.46 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup raised their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Raymond James raised their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Morgan Stanley raised their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.59.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,278 shares of company stock valued at $12,745,859. 0.46% of the stock is owned by insiders.

Abbott Laboratories Company 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.