Abbott Laboratories (NYSE:ABT) Shares Purchased by Thrive Wealth Management LLC

Thrive Wealth Management LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 4.7% during the second quarter, Holdings Channel reports. The fund owned 3,249 shares of the healthcare product maker’s stock after buying an additional 146 shares during the quarter. Thrive Wealth Management LLC’s holdings in Abbott Laboratories were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $131,000. United Bank raised its stake in Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after purchasing an additional 1,826 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Abbott Laboratories by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after purchasing an additional 15,521 shares during the last quarter. Kinneret Advisory LLC grew its holdings in shares of Abbott Laboratories by 2.3% during the first quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after buying an additional 436 shares in the last quarter. Finally, Lumature Wealth Partners LLC boosted its position in Abbott Laboratories by 636.2% during the first quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after acquiring an additional 1,915 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $100.99 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $106.17 and a 200 day moving average price of $105.24. The company has a market cap of $175.25 billion, a P/E ratio of 34.47, a PEG ratio of 4.58 and a beta of 0.68. Abbott Laboratories has a 12 month low of $93.25 and a 12 month high of $115.83.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The firm had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $9.71 billion. During the same period in the previous year, the company earned $1.43 earnings per share. Abbott Laboratories’s quarterly revenue was down 11.4% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.4 earnings per share for the current fiscal year.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the transaction, the director now directly owns 6,775,316 shares of the company’s stock, valued at $770,759,948.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. StockNews.com started coverage on Abbott Laboratories in a report on Thursday, August 17th. They issued a “buy” rating for the company. Wolfe Research upgraded shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Mizuho raised their price target on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Barclays upped their price target on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.82.

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 Established Pharmaceutical Products segment 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.