WFA of San Diego LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 12,138 shares of the healthcare product maker’s stock, valued at approximately $1,088,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JustInvest LLC grew its holdings in Abbott Laboratories by 44.0% during the 2nd quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock valued at $1,159,000 after buying an additional 3,873 shares in the last quarter. Alerus Financial NA grew its holdings in shares of Abbott Laboratories by 8.5% in the first quarter. Alerus Financial NA now owns 60,465 shares of the healthcare product maker’s stock valued at $4,771,000 after purchasing an additional 4,746 shares in the last quarter. Callahan Advisors LLC grew its holdings in shares of Abbott Laboratories by 0.7% in the second quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock valued at $9,760,000 after purchasing an additional 724 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at $203,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of Abbott Laboratories in the first quarter valued at $38,642,000. 73.09% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the transaction, the executive vice president now owns 144,912 shares of the company’s stock, valued at approximately $16,209,856.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Randel William Woodgrift sold 2,500 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $105.28, for a total value of $263,200.00. Following the transaction, the senior vice president now directly owns 46,267 shares in the company, valued at approximately $4,870,989.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,121 shares of company stock valued at $8,636,628. Company insiders own 1.70% of the company’s stock.

Shares of ABT traded down $0.61 during trading hours on Wednesday, hitting $105.97. 157,671 shares of the stock were exchanged, compared to its average volume of 6,481,369. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $114.19. The company has a market cap of $188.70 billion, a price-to-earnings ratio of 61.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. The stock’s 50-day moving average price is $103.06 and its two-hundred day moving average price is $91.79.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 3.27 earnings per share for the current year.

A number of research firms recently weighed in on ABT. Wolfe Research began coverage on shares of Abbott Laboratories in a report on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price for the company. Credit Suisse Group raised their target price on shares of Abbott Laboratories from $109.00 to $136.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Morgan Stanley raised their target price on shares of Abbott Laboratories from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Wells Fargo & Company raised their price target on Abbott Laboratories from $107.00 to $115.00 in a research report on Thursday, August 27th. Finally, Argus raised their price target on Abbott Laboratories from $110.00 to $125.00 in a research report on Thursday, July 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Hold” and an average price target of $111.19.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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