USA Financial Portformulas Corp acquired a new position in Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,095 shares of the healthcare product maker’s stock, valued at approximately $296,000.

Several other institutional investors have also added to or reduced their stakes in ABT. Heritage Trust Co grew its holdings in Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Winfield Associates Inc. grew its holdings in Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Motco grew its holdings in Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after purchasing an additional 1,962 shares in the last quarter. 71.32% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on ABT shares. Cowen reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. Citigroup started coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target for the company. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, September 22nd. Finally, Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $57.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $57.56.

In other news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the transaction, the insider now directly owns 102,117 shares in the company, valued at approximately $5,608,265.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sharon J. Bracken sold 2,188 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the transaction, the insider now owns 25,618 shares in the company, valued at $1,437,682.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 616,332 shares of company stock worth $33,579,226. Insiders own 0.76% of the company’s stock.

Abbott Laboratories (NYSE:ABT) opened at $54.73 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 52-week low of $37.90 and a 52-week high of $56.69. The stock has a market cap of $95,837.49, a PE ratio of 22.85, a PEG ratio of 2.06 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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