Gamco Investors INC. ET AL trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,115 shares of the healthcare product maker’s stock after selling 2,168 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Abbott Laboratories were worth $3,842,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Abbott Laboratories in the 3rd quarter valued at $47,713,000. Folger Hill Asset Management LP bought a new stake in Abbott Laboratories in the 4th quarter valued at $1,398,000. Teachers Insurance & Annuity Association of America lifted its position in Abbott Laboratories by 7.4% in the 4th quarter. Teachers Insurance & Annuity Association of America now owns 240,902 shares of the healthcare product maker’s stock valued at $13,748,000 after acquiring an additional 16,502 shares in the last quarter. Zeke Capital Advisors LLC lifted its position in Abbott Laboratories by 3.2% in the 4th quarter. Zeke Capital Advisors LLC now owns 70,476 shares of the healthcare product maker’s stock valued at $4,022,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Abbott Laboratories by 7.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 708,263 shares of the healthcare product maker’s stock valued at $40,421,000 after acquiring an additional 46,818 shares in the last quarter. 72.09% of the stock is currently owned by institutional investors.
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Several research firms recently commented on ABT. Citigroup boosted their price objective on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Argus boosted their price objective on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Sunday, April 22nd. Finally, Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Friday, April 20th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $68.35.
Abbott Laboratories stock opened at $62.37 on Tuesday. The stock has a market cap of $109.35 billion, a PE ratio of 24.95, a PEG ratio of 1.79 and a beta of 1.50. Abbott Laboratories has a fifty-two week low of $43.83 and a fifty-two week high of $64.60. The company has a current ratio of 1.66, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. Abbott Laboratories’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. research analysts expect that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
In other news, SVP Jared Watkin sold 996 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $58.87, for a total transaction of $58,634.52. Following the transaction, the senior vice president now directly owns 69,511 shares in the company, valued at approximately $4,092,112.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jaime Contreras sold 849 shares of the business’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $59.36, for a total transaction of $50,396.64. Following the transaction, the insider now owns 50,436 shares in the company, valued at $2,993,880.96. The disclosure for this sale can be found here. Insiders have sold a total of 32,516 shares of company stock worth $1,976,970 over the last 90 days. 0.74% of the stock is owned by company insiders.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; M茅ni猫re's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.