Oxler Private Wealth LLC Sells 10,340 Shares of Abbott Laboratories (NYSE:ABT)

Oxler Private Wealth LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 58.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,397 shares of the healthcare product maker’s stock after selling 10,340 shares during the period. Abbott Laboratories makes up approximately 0.7% of Oxler Private Wealth LLC’s investment portfolio, making the stock its 27th largest holding. Oxler Private Wealth LLC’s holdings in Abbott Laboratories were worth $814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $29,000. Rise Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $37,000. Stuart Chaussee & Associates Inc. lifted its holdings in Abbott Laboratories by 236.0% during the fourth 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. Cornerstone Planning Group LLC lifted its holdings in shares of Abbott Laboratories by 79.4% in the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $44,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT traded up $1.86 during trading on Wednesday, reaching $104.82. 5,932,815 shares of the company’s stock were exchanged, compared to its average volume of 5,649,579. The business has a 50 day moving average price of $108.89 and a 200-day moving average price of $109.54. The stock has a market capitalization of $182.35 billion, a P/E ratio of 32.64, a PEG ratio of 2.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly 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 the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Citigroup lowered their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays lowered 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $120.60.

Insider Transactions at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the business’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 owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP John A. Jr. Mccoy sold 472 shares of the business’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 owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Insiders sold a total of 46,884 shares of company stock worth $5,153,916 over the last quarter. Company insiders own 0.47% of the company’s stock.

About Abbott Laboratories

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.