Kentucky Retirement Systems Sells 749 Shares of Abbott Laboratories (NYSE:ABT)

Kentucky Retirement Systems cut its position in Abbott Laboratories (NYSE:ABT) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,092 shares of the healthcare product maker’s stock after selling 749 shares during the quarter. Kentucky Retirement Systems’ holdings in Abbott Laboratories were worth $13,622,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management raised its holdings in shares of Abbott Laboratories by 0.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after purchasing an additional 92 shares during the period. Encompass More Asset Management increased its position in Abbott Laboratories by 3.3% during the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after buying an additional 96 shares during the last quarter. Wynn Capital LLC raised its stake in Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after buying an additional 98 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC lifted its position in shares of Abbott Laboratories by 1.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock valued at $613,000 after buying an additional 100 shares during the last quarter. Finally, Hummer Financial Advisory Services Inc boosted its stake in shares of Abbott Laboratories by 1.2% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock worth $942,000 after acquiring an additional 100 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value 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 approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $114.87 on Thursday. The business has a 50-day moving average of $110.12 and a 200-day moving average of $108.61. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a market capitalization of $199.83 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

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

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Finally, Barclays upped their price objective 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

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.