Keystone Financial Group Has $1.85 Million Stake in Abbott Laboratories (NYSE:ABT)

Keystone Financial Group lowered its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 8.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,779 shares of the healthcare product maker’s stock after selling 1,523 shares during the period. Keystone Financial Group’s holdings in Abbott Laboratories were worth $1,847,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABT. Norges Bank bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $2,115,836,000. Boston Partners grew its holdings in shares of Abbott Laboratories by 12,577.8% in the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after acquiring an additional 3,742,912 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Abbott Laboratories by 14,037.9% in the fourth quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock valued at $148,504,000 after purchasing an additional 1,339,633 shares during the last quarter. Wellington Management Group LLP lifted its stake in 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Abbott Laboratories by 24.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,226,618 shares of the healthcare product maker’s stock valued at $575,304,000 after purchasing an additional 1,040,046 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded down $0.83 during trading on Monday, reaching $103.26. The stock had a trading volume of 7,165,308 shares, compared to its average volume of 5,655,504. The stock has a market cap of $179.63 billion, a PE ratio of 32.17, a PEG ratio of 2.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The business has a 50-day moving average of $109.59 and a 200-day moving average of $109.43.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,884 shares of company stock valued at $5,153,916. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Barclays dropped their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research 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 report on Thursday, April 18th. Finally, Citigroup upped their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Get Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Profile

(Free Report)

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.

Further Reading

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

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