Stockman Wealth Management Inc. Decreases Holdings in Abbott Laboratories (NYSE:ABT)

Stockman Wealth Management Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 29.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,505 shares of the healthcare product maker’s stock after selling 9,235 shares during the period. Stockman Wealth Management Inc.’s holdings in Abbott Laboratories were worth $999,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Cypress Capital Management LLC WY boosted its position in Abbott Laboratories by 37.9% in the 1st 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 stake in Abbott Laboratories in the 1st quarter worth approximately $112,000. Atwood & Palmer Inc. boosted its position in Abbott Laboratories by 157.5% in the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after purchasing an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in Abbott Laboratories by 9.3% in the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after purchasing an additional 292 shares in the last quarter. Finally, Advantage Investment Management LLC raised its stake in shares of Abbott Laboratories by 17.3% during the 1st quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock worth $163,000 after buying an additional 543 shares during the period. Institutional investors and hedge funds own 71.66% of the company’s stock.

In related news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s 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 sale, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders sold 218,150 shares of company stock valued at $10,811,179 over the last quarter. Insiders own 0.76% of the company’s stock.

Abbott Laboratories (NYSE ABT) traded up 0.19% during trading on Friday, hitting $51.79. The stock had a trading volume of 3,553,111 shares. The stock’s 50-day moving average is $49.96 and its 200 day moving average is $46.88. Abbott Laboratories has a one year low of $37.38 and a one year high of $52.60. The firm has a market cap of $89.98 billion, a price-to-earnings ratio of 72.54 and a beta of 1.06.

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

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Several brokerages have recently weighed in on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, June 14th. BidaskClub raised Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. TheStreet downgraded Abbott Laboratories from a “b” rating to a “c+” rating in a research note on Thursday, May 18th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Abbott Laboratories in a research note on Monday, July 10th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.50.

About Abbott Laboratories

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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