Abbott Laboratories (NYSE:ABT) Shares Bought by Conscious Wealth Investments LLC

Conscious Wealth Investments LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,598 shares of the healthcare product maker’s stock after purchasing an additional 295 shares during the quarter. Conscious Wealth Investments LLC’s holdings in Abbott Laboratories were worth $2,556,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Old West Investment Management LLC boosted its holdings in shares of Abbott Laboratories by 21.7% in the second quarter. Old West Investment Management LLC now owns 18,976 shares of the healthcare product maker’s stock valued at $1,972,000 after acquiring an additional 3,389 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Abbott Laboratories by 506.9% during the 2nd quarter. Edgestream Partners L.P. now owns 15,987 shares of the healthcare product maker’s stock valued at $1,661,000 after purchasing an additional 13,353 shares in the last quarter. Pekin Hardy Strauss Inc. increased its position in shares of Abbott Laboratories by 16.2% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 16,902 shares of the healthcare product maker’s stock valued at $1,756,000 after purchasing an additional 2,351 shares during the period. Moors & Cabot Inc. raised its stake in shares of Abbott Laboratories by 2.2% in the 2nd quarter. Moors & Cabot Inc. now owns 58,419 shares of the healthcare product maker’s stock worth $6,070,000 after buying an additional 1,237 shares in the last quarter. Finally, Excalibur Management Corp boosted its stake in Abbott Laboratories by 1.2% during the second quarter. Excalibur Management Corp now owns 13,927 shares of the healthcare product maker’s stock valued at $1,447,000 after buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 transaction, 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 filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $117.63 on Tuesday. The stock’s fifty day simple moving average is $109.55 and its 200-day simple moving average is $108.57. The company has a market capitalization of $204.63 billion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 2.90 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.