Abbott Laboratories (NYSE:ABT) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,000 shares of the healthcare product maker’s stock after selling 110 shares during the quarter. Abbott Laboratories comprises 1.0% of Oak Harbor Wealth Partners LLC’s portfolio, making the stock its 27th largest position. Oak Harbor Wealth Partners LLC’s holdings in Abbott Laboratories were worth $3,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 4.3% in the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares in the last quarter. Northern Trust Corp lifted its stake in Abbott Laboratories by 1.5% during the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after purchasing an additional 343,559 shares during the period. Norges Bank bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $2,115,836,000. Charles Schwab Investment Management Inc. raised its position in Abbott Laboratories by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,360,908 shares of the healthcare product maker’s stock worth $1,346,959,000 after purchasing an additional 207,031 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Abbott Laboratories by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,930,872 shares of the healthcare product maker’s stock worth $1,093,091,000 after purchasing an additional 236,741 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.32 during mid-day trading on Thursday, hitting $104.50. The company had a trading volume of 2,747,351 shares, compared to its average volume of 5,618,126. The company has a market capitalization of $181.79 billion, a P/E ratio of 32.61, a P/E/G ratio of 2.48 and a beta of 0.76. The stock’s 50 day moving average price is $108.59 and its 200-day moving average price is $109.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada decreased their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays dropped their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $120.60.

Insiders Place Their Bets

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,884 shares of company stock valued at $5,153,916. 1.10% of the stock is owned by insiders.

About Abbott Laboratories

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 company 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.