BCU Wealth Advisors LLC Takes Position in Abbott Laboratories (NYSE:ABT)

BCU Wealth Advisors LLC purchased a new stake in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,443 shares of the healthcare product maker’s stock, valued at approximately $489,000. Abbott Laboratories comprises 0.5% of BCU Wealth Advisors LLC’s portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. WealthPlan Investment Management LLC increased its stake in shares of Abbott Laboratories by 84.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 82,564 shares of the healthcare product maker’s stock valued at $7,996,000 after acquiring an additional 37,715 shares during the last quarter. SteelPeak Wealth LLC grew its position in shares of Abbott Laboratories by 214.2% in the 3rd quarter. SteelPeak Wealth LLC now owns 6,503 shares of the healthcare product maker’s stock valued at $630,000 after purchasing an additional 4,433 shares during the period. MGO One Seven LLC grew its position in shares of Abbott Laboratories by 4.8% in the 3rd quarter. MGO One Seven LLC now owns 18,222 shares of the healthcare product maker’s stock valued at $1,765,000 after purchasing an additional 834 shares during the period. Syon Capital LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $840,000. Finally, Regent Peak Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 23,983 shares of the healthcare product maker’s stock valued at $2,323,000 after purchasing an additional 138 shares during the period. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ABT shares. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reduced their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Citigroup cut their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Barclays dropped their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.60.

Abbott Laboratories Stock Performance

ABT stock traded down $0.43 during trading hours on Thursday, hitting $104.39. 3,079,647 shares of the stock were exchanged, compared to its average volume of 5,622,387. The firm has a market capitalization of $181.60 billion, a P/E ratio of 32.61, a P/E/G 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 company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $108.59 and a two-hundred day simple moving average of $109.50.

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

Insider Activity at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated 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 directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $114,115.50. Following the transaction, 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. Insiders have sold 46,884 shares of company stock valued at $5,153,916 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.