Miramar Capital LLC Acquires 1,695 Shares of Abbott Laboratories (NYSE:ABT)

Miramar Capital LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,211 shares of the healthcare product maker’s stock after buying an additional 1,695 shares during the quarter. Abbott Laboratories accounts for approximately 2.9% of Miramar Capital LLC’s portfolio, making the stock its 18th largest holding. Miramar Capital LLC’s holdings in Abbott Laboratories were worth $11,660,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories in the first quarter valued at about $30,000. Finally, True Wealth Design LLC boosted its holdings in shares of Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research analyst reports. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Evercore ISI decreased their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Citigroup lifted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Trading Down 2.8 %

NYSE:ABT opened at $114.87 on Thursday. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company’s 50-day simple moving average is $110.12 and its 200 day simple moving average is $108.61. The firm has a market capitalization of $199.83 billion, a P/E ratio of 35.79, a PEG 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 posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company 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 firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. As a group, analysts forecast that Abbott Laboratories will post 4.66 EPS 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.