LexAurum Advisors LLC Cuts Position in Abbott Laboratories (NYSE:ABT)

LexAurum Advisors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,663 shares of the healthcare product maker’s stock after selling 98 shares during the period. LexAurum Advisors LLC’s holdings in Abbott Laboratories were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Three Seasons Wealth LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at approximately $1,428,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories in the fourth quarter worth $273,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock worth $133,691,000 after buying an additional 57,499 shares during the period. Bank Pictet & Cie Europe AG increased its position in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after acquiring an additional 2,774 shares during the last quarter. Finally, DSM Capital Partners LLC raised its stake in shares of Abbott Laboratories by 75.6% in the fourth quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker’s stock valued at $97,207,000 after acquiring an additional 370,049 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 in the company, valued at approximately $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 can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on ABT shares. Wall Street Zen cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Bank of America boosted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Royal Bank of Canada increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Raymond James upped their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Four research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $133.61 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $130.74 and its 200-day moving average price is $125.90. The firm has a market cap of $232.45 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.52 and a beta of 0.73. 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 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 business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, equities research analysts expect 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.