Personal CFO Solutions LLC Increases Stake in Abbott Laboratories (NYSE:ABT)

Personal CFO Solutions LLC grew its position in Abbott Laboratories (NYSE:ABT) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,264 shares of the healthcare product maker’s stock after acquiring an additional 856 shares during the quarter. Personal CFO Solutions LLC’s holdings in Abbott Laboratories were worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories in the 4th quarter worth about $29,000. Rise Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth about $37,000. Stuart Chaussee & Associates Inc. grew its holdings in Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Private Wealth Management Group LLC bought a new position in Abbott Laboratories during the 4th quarter worth about $44,000. Finally, Bfsg LLC bought a new position in Abbott Laboratories during the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

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 transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’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 transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent analyst reports. Barclays lowered their target price 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. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Raymond James reissued a “buy” rating and set a $124.00 price target 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 eight 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 $120.64.

Abbott Laboratories Trading Up 3.2 %

NYSE:ABT traded up $3.31 on Friday, reaching $107.58. 8,666,641 shares of the company’s stock were exchanged, compared to its average volume of 5,675,876. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $187.15 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.51 and a beta of 0.74. The business has a fifty day moving average of $106.30 and a 200-day moving average of $110.02. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

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

Abbott Laboratories 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 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.