Financial Gravity Wealth Inc. bought a new position in Abbott Laboratories (NYSE:ABT) in the 1st quarter, HoldingsChannel reports. The fund bought 2,094 shares of the healthcare product maker’s stock, valued at approximately $167,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in Abbott Laboratories by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock valued at $10,197,944,000 after buying an additional 2,208,781 shares in the last quarter. BlackRock Inc. grew its holdings in Abbott Laboratories by 3.3% during the 4th quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock valued at $8,755,228,000 after buying an additional 3,842,101 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Abbott Laboratories by 7,559.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock valued at $416,000 after buying an additional 29,702,943 shares in the last quarter. Northern Trust Corp grew its holdings in Abbott Laboratories by 2.7% during the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after buying an additional 708,691 shares in the last quarter. Finally, FMR LLC grew its holdings in Abbott Laboratories by 118.2% during the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock valued at $1,718,726,000 after buying an additional 12,871,418 shares in the last quarter. 73.45% of the stock is owned by institutional investors.

A number of brokerages have issued reports on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Friday, March 8th. Royal Bank of Canada increased their price objective on shares of Abbott Laboratories to $82.00 and gave the company a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $80.30.

In related news, insider Brian J. Blaser sold 450,062 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the sale, the insider now directly owns 295,745 shares in the company, valued at $22,334,662.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph J. Manning sold 5,613 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the sale, the insider now owns 56,029 shares of the company’s stock, valued at $4,458,787.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,001,705 shares of company stock valued at $76,460,183. 0.70% of the stock is currently owned by insiders.

ABT stock opened at $76.98 on Monday. Abbott Laboratories has a fifty-two week low of $60.31 and a fifty-two week high of $80.74. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $135.81 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The firm had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same period last year, the firm posted $0.59 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 3.22 earnings per share for the current year.

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Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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