Abbott Laboratories (NYSE:ABT) Shares Purchased by Sienna Gestion

Sienna Gestion boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,801 shares of the healthcare product maker’s stock after acquiring an additional 424 shares during the quarter. Sienna Gestion’s holdings in Abbott Laboratories were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABT. Hanson & Doremus Investment Management grew its position in 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 buying an additional 92 shares during the last quarter. Encompass More Asset Management increased its stake in shares of 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 acquiring an additional 96 shares during the period. Wynn Capital LLC raised its holdings in Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC raised its holdings in Abbott Laboratories by 1.9% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock worth $613,000 after purchasing an additional 100 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc boosted its holdings in Abbott Laboratories by 1.2% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock valued at $942,000 after purchasing an additional 100 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Trading Down 2.8 %

Shares of Abbott Laboratories stock opened at $114.87 on Thursday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year 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 business has a 50 day moving average price of $110.12 and a 200 day moving average price of $108.61. The company has a market capitalization of $199.83 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.90 and a beta of 0.72.

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

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.