Abbott Laboratories (NYSE:ABT) Shares Bought by Sand Hill Global Advisors LLC

Sand Hill Global Advisors LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,171 shares of the healthcare product maker’s stock after acquiring an additional 550 shares during the period. Sand Hill Global Advisors LLC’s holdings in Abbott Laboratories were worth $7,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC UT grew its holdings in Abbott Laboratories by 0.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares in the last quarter. Rappaport Reiches Capital Management LLC boosted its holdings in shares of Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after buying an additional 94 shares in the last quarter. Avion Wealth boosted its holdings in shares of Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after buying an additional 96 shares in the last quarter. Berger Financial Group Inc boosted its holdings in shares of Abbott Laboratories by 3.0% in the 4th quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock valued at $377,000 after buying an additional 99 shares in the last quarter. Finally, Renaissance Investment Group LLC boosted its stake in Abbott Laboratories by 0.7% during the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT traded up $1.86 during trading hours on Wednesday, reaching $104.82. The company had a trading volume of 5,933,166 shares, compared to its average volume of 5,649,589. The company has a market capitalization of $182.35 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 2.48 and a beta of 0.76. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a 50 day simple moving average of $108.89 and a 200-day simple moving average of $109.54. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

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

Insider Activity at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,884 shares of company stock valued at $5,153,916. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABT. Evercore ISI increased their price target 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. Barclays decreased their price target 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. Citigroup cut their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada cut their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.60.

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.