Callan Capital LLC Buys 1,682 Shares of Abbott Laboratories (NYSE:ABT)

Callan Capital LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 36.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,327 shares of the healthcare product maker’s stock after acquiring an additional 1,682 shares during the quarter. Callan Capital LLC’s holdings in Abbott Laboratories were worth $657,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital Research Global Investors raised its holdings in Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares during the period. Capital International Investors raised its holdings in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the period. Wellington Management Group LLP grew its position in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after purchasing an additional 1,027,390 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Abbott Laboratories by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,922,170 shares of the healthcare product maker’s stock worth $1,092,133,000 after purchasing an additional 228,039 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Abbott Laboratories in a research report on Thursday. They set an “overweight” rating and a $131.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Evercore ISI reduced their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $114.15 on Friday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market capitalization of $198.58 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.90 and a beta of 0.72. The company’s 50 day moving average price is $110.32 and its two-hundred day moving average price is $108.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

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.