Bourne Lent Asset Management Inc. Sells 100 Shares of Abbott Laboratories (NYSE:ABT)

Bourne Lent Asset Management Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 4.0% during the first quarter, Holdings Channel reports. The fund owned 2,398 shares of the healthcare product maker’s stock after selling 100 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Abbott Laboratories were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Sivia Capital Partners LLC lifted its holdings in Abbott Laboratories by 4.1% in the first quarter. Sivia Capital Partners LLC now owns 4,606 shares of the healthcare product maker’s stock valued at $611,000 after acquiring an additional 180 shares during the period. Gateway Investment Advisers LLC lifted its holdings in Abbott Laboratories by 1.0% in the first quarter. Gateway Investment Advisers LLC now owns 541,239 shares of the healthcare product maker’s stock valued at $71,795,000 after acquiring an additional 5,485 shares during the period. GGM Financials LLC lifted its holdings in Abbott Laboratories by 36.9% in the first quarter. GGM Financials LLC now owns 6,335 shares of the healthcare product maker’s stock valued at $840,000 after acquiring an additional 1,709 shares during the period. Sara Bay Financial lifted its holdings in Abbott Laboratories by 9.2% in the first quarter. Sara Bay Financial now owns 8,416 shares of the healthcare product maker’s stock valued at $1,101,000 after acquiring an additional 709 shares during the period. Finally, Congress Asset Management Co. lifted its holdings in Abbott Laboratories by 6.3% in the first quarter. Congress Asset Management Co. now owns 3,529 shares of the healthcare product maker’s stock valued at $468,000 after acquiring an additional 210 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABT. Stifel Nicolaus increased their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Jefferies Financial Group upped their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Bank of America upped their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Raymond James upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Stock Down 0.2%

Shares of ABT opened at $133.61 on Friday. The business’s 50 day moving average is $130.74 and its 200 day moving average is $125.84. The company has a market capitalization of $232.45 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

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.