6,163 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,163 shares of the healthcare product maker’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Capital Management LLC boosted its stake in shares of Abbott Laboratories by 0.4% during the 1st quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after acquiring an additional 26 shares in the last quarter. Delta Asset Management LLC TN boosted its stake in shares of Abbott Laboratories by 1.3% during the 1st quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after acquiring an additional 51 shares in the last quarter. Alexandria Capital LLC boosted its stake in shares of Abbott Laboratories by 0.5% during the 1st quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock worth $503,000 after acquiring an additional 56 shares in the last quarter. iAB Financial Bank boosted its stake in shares of Abbott Laboratories by 0.4% during the 1st quarter. iAB Financial Bank now owns 27,050 shares of the healthcare product maker’s stock worth $1,201,000 after acquiring an additional 100 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL boosted its stake in shares of Abbott Laboratories by 0.5% during the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 22,058 shares of the healthcare product maker’s stock worth $980,000 after acquiring an additional 108 shares in the last quarter. 71.66% of the stock is owned by institutional investors and hedge funds.

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In related news, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction 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 directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Blaser sold 15,000 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,150 shares of company stock valued at $10,811,179. Company insiders own 0.76% of the company’s stock.

ABT has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a research note on Friday, September 1st. Cowen and Company reissued a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 17th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Finally, Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.50.

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

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

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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