USA Financial Formulas Boosts Position in Abbott Laboratories (NYSE:ABT)

USA Financial Formulas boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 191.9% during the first quarter, Holdings Channel reports. The firm owned 11,251 shares of the healthcare product maker’s stock after buying an additional 7,396 shares during the quarter. Abbott Laboratories comprises approximately 0.2% of USA Financial Formulas’ holdings, making the stock its 25th biggest position. USA Financial Formulas’ holdings in Abbott Laboratories were worth $1,492,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABT. Cim LLC boosted its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock valued at $1,919,000 after purchasing an additional 73 shares during the period. Cape Investment Advisory Inc. boosted its position in Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 76 shares during the period. Capital Square LLC boosted its position in Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after acquiring an additional 77 shares during the period. Cyrus J. Lawrence LLC boosted its position in Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after acquiring an additional 79 shares during the period. Finally, Jacobson & Schmitt Advisors LLC boosted its position in Abbott Laboratories by 2.9% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after acquiring an additional 80 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was 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 approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABT. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Wall Street Zen downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Four equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $134.04 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $130.82 and its two-hundred day moving average is $126.06. The company has a market cap of $233.21 billion, a P/E ratio of 17.52, 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 issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current 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.