Abbott Laboratories (NYSE:ABT) Holdings Decreased by Copley Financial Group Inc.

Copley Financial Group Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,573 shares of the healthcare product maker’s stock after selling 108 shares during the period. Copley Financial Group Inc.’s holdings in Abbott Laboratories were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC boosted its position in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 95,278 shares of company stock valued at $12,745,859. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABT. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Wells Fargo & Company raised their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Finally, Raymond James upped their target price on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $131.31 on Tuesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The stock’s 50-day moving average is $129.95 and its 200 day moving average is $124.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $228.46 billion, a P/E ratio of 17.16, a PEG ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.