DSM Capital Partners LLC Takes $396,000 Position in Abbott Laboratories (NYSE:ABT)

DSM Capital Partners LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,600 shares of the healthcare product maker’s stock, valued at approximately $396,000.

Other large investors also recently modified their holdings of the company. WealthPlan Investment Management LLC lifted its holdings in Abbott Laboratories by 84.1% during the third quarter. WealthPlan Investment Management LLC now owns 82,564 shares of the healthcare product maker’s stock worth $7,996,000 after acquiring an additional 37,715 shares during the period. Victory Capital Management Inc. lifted its holdings in Abbott Laboratories by 1.3% during the third quarter. Victory Capital Management Inc. now owns 624,689 shares of the healthcare product maker’s stock worth $60,501,000 after acquiring an additional 7,999 shares during the period. LGT Group Foundation lifted its holdings in Abbott Laboratories by 46.4% during the third quarter. LGT Group Foundation now owns 6,711 shares of the healthcare product maker’s stock worth $642,000 after acquiring an additional 2,128 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in Abbott Laboratories by 25.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 1,076 shares of the healthcare product maker’s stock worth $104,000 after acquiring an additional 215 shares during the period. Finally, PFG Investments LLC lifted its holdings in Abbott Laboratories by 31.0% during the third quarter. PFG Investments LLC now owns 8,417 shares of the healthcare product maker’s stock worth $815,000 after acquiring an additional 1,992 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of the business’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 $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP John A. Jr. Mccoy sold 472 shares of the company’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 $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold a total of 34,384 shares of company stock worth $3,653,916 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.28 during mid-day trading on Friday, hitting $103.95. The company had a trading volume of 4,455,866 shares, compared to its average volume of 5,510,455. The company has a market capitalization of $180.83 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.50 and a beta of 0.76. Abbott Laboratories has a 1 year low of $89.67 and a 1 year 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 stock’s 50-day moving average price is $108.08 and its 200-day moving average price is $109.63.

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, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. On average, sell-side analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. 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 note on Monday, April 22nd. 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 note on Wednesday. Royal Bank of Canada lowered their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.