Park Edge Advisors LLC Has $595,000 Position in Abbott Laboratories (NYSE:ABT)

Park Edge Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,489 shares of the healthcare product maker’s stock after selling 196 shares during the period. Park Edge Advisors LLC’s holdings in Abbott Laboratories were worth $595,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Nixon Peabody Trust Co. lifted its stake in shares of Abbott Laboratories by 0.7% in the first quarter. Nixon Peabody Trust Co. now owns 19,010 shares of the healthcare product maker’s stock valued at $2,522,000 after buying an additional 137 shares in the last quarter. Teamwork Financial Advisors LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $3,414,000. Sendero Wealth Management LLC raised its position in Abbott Laboratories by 19.1% in the 1st quarter. Sendero Wealth Management LLC now owns 30,683 shares of the healthcare product maker’s stock valued at $4,070,000 after buying an additional 4,930 shares during the last quarter. Lakeshore Capital Group Inc. lifted its stake in Abbott Laboratories by 1.9% during the 1st quarter. Lakeshore Capital Group Inc. now owns 6,941 shares of the healthcare product maker’s stock valued at $921,000 after acquiring an additional 127 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter worth $609,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.1%

Shares of NYSE:ABT opened at $133.74 on Wednesday. The stock has a market capitalization of $232.69 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The stock’s 50-day moving average price is $130.64 and its 200-day moving average price is $125.49. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus increased their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Citigroup upped their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Raymond James lifted 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. Royal Bank of Canada increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $142.59.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’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 owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents 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 accessible through this link. Also, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company 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.