L & S Advisors Inc Sells 67,091 Shares of Abbott Laboratories (NYSE:ABT)

L & S Advisors Inc lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 78.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,070 shares of the healthcare product maker’s stock after selling 67,091 shares during the period. L & S Advisors Inc’s holdings in Abbott Laboratories were worth $1,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter worth $30,000. Finally, True Wealth Design LLC increased its stake in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI dropped their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Barclays lifted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Price Performance

NYSE:ABT opened at $117.63 on Tuesday. The firm has a market capitalization of $204.63 billion, a price-to-earnings ratio of 36.64, 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. The business has a 50 day simple moving average of $109.55 and a 200-day simple moving average of $108.57. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

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