US Asset Management LLC Sells 134 Shares of Abbott Laboratories (NYSE:ABT)

US Asset Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,999 shares of the healthcare product maker’s stock after selling 134 shares during the quarter. US Asset Management LLC’s holdings in Abbott Laboratories were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the second quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC increased its position in Abbott Laboratories by 1,677.8% during 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. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

NYSE ABT opened at $116.40 on Friday. 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 $202.52 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 2.90 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $109.24 and a two-hundred day moving average of $108.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share 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 company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. Citigroup raised their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Barclays upped their target price 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. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group began coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Finally, Evercore ISI reduced 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.80.

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.