Ieq Capital LLC Purchases 2,154 Shares of Abbott Laboratories (NYSE:ABT)

Ieq Capital LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,990 shares of the healthcare product maker’s stock after purchasing an additional 2,154 shares during the period. Ieq Capital LLC’s holdings in Abbott Laboratories were worth $11,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the 2nd quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter valued at about $30,000. Finally, True Wealth Design LLC raised its position in shares of 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 valued at $35,000 after buying an additional 302 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

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 twelve month low of $89.67 and a twelve month high of $121.64. The company has a fifty day moving average of $110.32 and a 200-day moving average of $108.64. 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.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 target price on the stock. Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Piper Sandler began coverage on shares of Abbott Laboratories in a research note on Thursday. They issued an “overweight” rating and a $131.00 price objective for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

About Abbott Laboratories

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.