Cambridge Advisors Inc. Sells 1,400 Shares of Abbott Laboratories (ABT)

Cambridge Advisors Inc. cut its stake in Abbott Laboratories (NYSE:ABT) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,010 shares of the healthcare product maker’s stock after selling 1,400 shares during the period. Cambridge Advisors Inc.’s holdings in Abbott Laboratories were worth $535,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Villere ST Denis J & Co. LLC raised its holdings in Abbott Laboratories by 2.3% during the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after purchasing an additional 5,950 shares in the last quarter. Whittier Trust Co. grew its position in Abbott Laboratories by 1.7% during the first quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock worth $17,807,000 after buying an additional 6,751 shares during the period. Private Bank & Trust Co. grew its position in Abbott Laboratories by 12.3% during the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after buying an additional 3,330 shares during the period. Century Capital Management LLC acquired a new position in Abbott Laboratories during the first quarter worth about $4,332,000. Finally, Farmers & Merchants Investments Inc. grew its position in Abbott Laboratories by 7.6% during the first quarter. Farmers & Merchants Investments Inc. now owns 103,815 shares of the healthcare product maker’s stock worth $4,610,000 after buying an additional 7,309 shares during the period. 71.66% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories (NYSE:ABT) traded up 0.087% on Friday, hitting $51.735. 4,607,442 shares of the stock traded hands. The company’s 50 day moving average price is $49.96 and its 200-day moving average price is $46.88. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $52.60. The stock has a market capitalization of $89.89 billion, a P/E ratio of 72.458 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.

Several research firms have recently commented on ABT. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a research report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. Finally, Citigroup Inc. started coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $52.50.

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In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,963,656. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the transaction, the insider now owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold a total of 218,150 shares of company stock valued at $10,811,179 in the last quarter. 0.76% of the stock is owned by corporate insiders.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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