Meeder Asset Management Inc. Sells 2,664 Shares of Abbott Laboratories (NYSE:ABT)

Meeder Asset Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 86.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435 shares of the healthcare product maker’s stock after selling 2,664 shares during the quarter. Meeder Asset Management Inc.’s holdings in Abbott Laboratories were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories during the second quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth $30,000. Finally, True Wealth Design LLC increased its holdings in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 302 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABT. Evercore ISI lowered their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Trading Down 0.4 %

ABT opened at $116.40 on Monday. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a 50-day simple moving average of $109.24 and a 200 day simple moving average of $108.57. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $202.49 billion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Company 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.