GM Advisory Group LLC Raises Stock Position in Abbott Laboratories (NYSE:ABT)

GM Advisory Group LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,979 shares of the healthcare product maker’s stock after acquiring an additional 116 shares during the period. GM Advisory Group LLC’s holdings in Abbott Laboratories were worth $517,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC grew its stake in Abbott Laboratories by 1,677.8% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABT shares. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Abbott Laboratories Trading Down 0.6 %

NYSE:ABT opened at $114.15 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. 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 has a fifty day moving average of $110.32 and a 200 day moving average of $108.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS 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 analyst estimates of $10.37 billion. During the same period in the prior year, the business earned $1.08 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Insiders Place Their Bets

In other 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 value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.