Abbott Laboratories (NYSE:ABT) Stake Lessened by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc cut its stake in Abbott Laboratories (NYSE:ABT) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,369 shares of the healthcare product maker’s stock after selling 320 shares during the period. O Brien Greene & Co. Inc’s holdings in Abbott Laboratories were worth $1,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its stake in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

Shares of ABT opened at $118.13 on Wednesday. The company’s fifty day moving average is $109.88 and its 200-day moving average is $108.56. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The firm has a market cap of $205.50 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the business posted $1.08 EPS. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Citigroup increased their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

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.