Columbia Asset Management held its position in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,048 shares of the healthcare product maker’s stock at the end of the first quarter. Columbia Asset Management’s holdings in Abbott Laboratories were worth $712,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cypress Capital Management LLC WY increased its stake in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after purchasing an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Abbott Laboratories during the first quarter valued at approximately $112,000. Atwood & Palmer Inc. grew its stake in Abbott Laboratories by 157.5% during the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after acquiring an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. grew its stake in Abbott Laboratories by 9.3% during the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock valued at $152,000 after acquiring an additional 292 shares in the last quarter. Finally, Advantage Investment Management LLC grew its stake in Abbott Laboratories by 17.3% during the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after acquiring an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.
Abbott Laboratories (ABT) traded up 0.068% during trading on Friday, reaching $51.725. 3,107,485 shares of the company’s stock traded hands. Abbott Laboratories has a one year low of $37.38 and a one year high of $52.60. The company has a 50 day moving average of $49.96 and a 200 day moving average of $46.88. The firm has a market cap of $89.87 billion, a price-to-earnings ratio of 72.444 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion for 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 firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Equities research analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.
Several equities research analysts have issued reports on ABT shares. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 21st. BTIG Research initiated coverage on shares of Abbott Laboratories in a report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Friday, June 16th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $52.50.
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In related news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,963,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sharon J. Bracken sold 2,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now owns 28,806 shares in the company, valued at $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 worth $10,811,179 in the last 90 days. 0.76% of the stock is currently owned by company 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.
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