Abbott Laboratories (NYSE:ABT) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors lessened its stake in Abbott Laboratories (NYSE:ABT) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,810 shares of the healthcare product maker’s stock after selling 630 shares during the quarter. Davidson Investment Advisors’ holdings in Abbott Laboratories were worth $558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Glassman Wealth Services boosted its holdings in shares of Abbott Laboratories by 6.2% in the 2nd quarter. Glassman Wealth Services now owns 1,479 shares of the healthcare product maker’s stock valued at $171,000 after purchasing an additional 86 shares during the last quarter. 44 Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 4.5% during the 2nd quarter. 44 Wealth Management LLC now owns 2,042 shares of the healthcare product maker’s stock valued at $237,000 after acquiring an additional 87 shares in the last quarter. Intrust Bank NA lifted its holdings in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Intrust Bank NA now owns 25,447 shares of the healthcare product maker’s stock valued at $2,950,000 after acquiring an additional 89 shares in the last quarter. Eads & Heald Wealth Management lifted its holdings in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Eads & Heald Wealth Management now owns 17,580 shares of the healthcare product maker’s stock valued at $2,038,000 after acquiring an additional 90 shares in the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in shares of Abbott Laboratories by 0.4% during the 2nd quarter. ICW Investment Advisors LLC now owns 25,519 shares of the healthcare product maker’s stock valued at $2,958,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 72.05% of the company’s stock.

Shares of NYSE:ABT traded down $0.13 during trading on Wednesday, reaching $126.92. 21,815 shares of the company’s stock traded hands, compared to its average volume of 5,376,956. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. Abbott Laboratories has a 12 month low of $100.34 and a 12 month high of $129.70. The company has a 50 day moving average of $123.08 and a 200-day moving average of $119.30. The stock has a market capitalization of $225.01 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.15. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. Abbott Laboratories’s revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. Equities research analysts predict that Abbott Laboratories will post 4.42 earnings per share for the current fiscal year.

In other news, SVP Randel William Woodgrift sold 6,350 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $129.00, for a total value of $819,150.00. Following the completion of the sale, the senior vice president now directly owns 50,093 shares of the company’s stock, valued at approximately $6,461,997. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $129.05, for a total transaction of $2,969,182.40. The disclosure for this sale can be found here. Insiders have sold a total of 222,883 shares of company stock valued at $27,964,400 over the last three months. 1.50% of the stock is currently owned by company insiders.

Several equities research analysts recently issued reports on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target on the stock in a research note on Tuesday, August 3rd. Credit Suisse Group lifted their price target on shares of Abbott Laboratories from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, July 12th. BTIG Research lifted their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Finally, Citigroup reaffirmed a “buy” rating and set a $125.00 price target (down previously from $138.00) on shares of Abbott Laboratories in a research note on Wednesday, June 2nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $128.93.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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