Harbor Investment Advisory LLC Has $3.42 Million Position in Abbott Laboratories (NYSE:ABT)

Harbor Investment Advisory LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 2.4% during the 1st quarter, HoldingsChannel reports. The fund owned 25,761 shares of the healthcare product maker’s stock after selling 638 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Abbott Laboratories were worth $3,417,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new position in Abbott Laboratories during the fourth quarter worth $200,000. Capital & Planning LLC boosted its stake in shares of Abbott Laboratories by 1.2% during the 4th quarter. Capital & Planning LLC now owns 8,673 shares of the healthcare product maker’s stock worth $981,000 after buying an additional 100 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after acquiring an additional 15,692 shares in the last quarter. Brighton Jones LLC increased its position in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Abbott Laboratories during the fourth quarter worth about $29,120,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. The trade was a 55.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ABT shares. Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Citigroup increased their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Stock Up 0.6%

ABT stock opened at $133.68 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. 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 stock has a market capitalization of $232.58 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.52 and a beta of 0.74. The business’s fifty day moving average price is $130.46 and its two-hundred day moving average price is $125.31.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current 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.