Abbott Laboratories (ABT) Position Increased by Nicolet Bankshares Inc.
Nicolet Bankshares Inc. boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 42.9% during the first quarter, Holdings Channel reports. The firm owned 29,103 shares of the healthcare product maker’s stock after buying an additional 8,743 shares during the period. Abbott Laboratories comprises 0.7% of Nicolet Bankshares Inc.’s investment portfolio, making the stock its 28th largest position. Nicolet Bankshares Inc.’s holdings in Abbott Laboratories were worth $1,292,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Weatherstone Capital Management boosted its position in shares of Abbott Laboratories by 11.1% in the third quarter. Weatherstone Capital Management now owns 8,691 shares of the healthcare product maker’s stock worth $368,000 after buying an additional 871 shares during the last quarter. Poplar Forest Capital LLC boosted its position in shares of Abbott Laboratories by 0.3% in the third quarter. Poplar Forest Capital LLC now owns 17,100 shares of the healthcare product maker’s stock worth $723,000 after buying an additional 50 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 0.8% in the third quarter. Ropes Wealth Advisors LLC now owns 26,011 shares of the healthcare product maker’s stock worth $1,100,000 after buying an additional 207 shares during the last quarter. Check Capital Management Inc. CA boosted its position in shares of Abbott Laboratories by 9.6% in the third quarter. Check Capital Management Inc. CA now owns 91,476 shares of the healthcare product maker’s stock worth $3,869,000 after buying an additional 8,000 shares during the last quarter. Finally, People s United Financial Inc. boosted its position in shares of Abbott Laboratories by 0.5% in the third quarter. People s United Financial Inc. now owns 329,252 shares of the healthcare product maker’s stock worth $13,924,000 after buying an additional 1,587 shares during the last quarter. Institutional investors own 62.20% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at 46.10 on Friday. Abbott Laboratories has a 52-week low of $36.76 and a 52-week high of $46.10. The company’s 50-day moving average price is $43.96 and its 200-day moving average price is $42.37. The firm has a market cap of $80.00 billion, a PE ratio of 47.97 and a beta of 0.97.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.16 billion. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. Abbott Laboratories’s revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Equities analysts expect that Abbott Laboratories will post $2.47 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on ABT. Royal Bank of Canada restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Jefferies Group LLC decreased their target price on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th. BMO Capital Markets cut Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a report on Tuesday, March 14th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $42.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.00.
In other news, insider Joseph J. Manning sold 4,200 shares of Abbott Laboratories stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total transaction of $184,590.00. Following the transaction, the insider now owns 26,224 shares in the company, valued at $1,152,544.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Roger Bird sold 5,600 shares of Abbott Laboratories stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $43.82, for a total transaction of $245,392.00. Following the transaction, the insider now owns 51,313 shares in the company, valued at approximately $2,248,535.66. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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