Jacobi Capital Management LLC Has $2.34 Million Position in Abbott Laboratories (NYSE:ABT)

Jacobi Capital Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,296 shares of the healthcare product maker’s stock after purchasing an additional 615 shares during the period. Jacobi Capital Management LLC’s holdings in Abbott Laboratories were worth $2,344,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Nichols & Pratt Advisers LLP MA increased its stake in shares of Abbott Laboratories by 0.8% in the third quarter. Nichols & Pratt Advisers LLP MA now owns 39,554 shares of the healthcare product maker’s stock worth $3,831,000 after purchasing an additional 300 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its stake in shares of Abbott Laboratories by 2.1% in the third quarter. Alliance Wealth Advisors LLC UT now owns 24,993 shares of the healthcare product maker’s stock worth $2,421,000 after purchasing an additional 517 shares in the last quarter. Waters Parkerson & CO. LLC increased its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Waters Parkerson & CO. LLC now owns 479,607 shares of the healthcare product maker’s stock worth $46,450,000 after purchasing an additional 1,850 shares in the last quarter. Ellevest Inc. increased its stake in shares of Abbott Laboratories by 3.6% in the third quarter. Ellevest Inc. now owns 7,617 shares of the healthcare product maker’s stock worth $738,000 after purchasing an additional 262 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new position in shares of Abbott Laboratories in the third quarter valued at approximately $664,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 1.6 %

Shares of ABT traded down $1.76 during mid-day trading on Tuesday, reaching $105.73. The company’s stock had a trading volume of 1,837,353 shares, compared to its average volume of 5,655,321. The stock has a market cap of $183.93 billion, a PE ratio of 33.49, a P/E/G ratio of 2.59 and a beta of 0.74. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company’s fifty day moving average price is $106.20 and its two-hundred day moving average price is $110.11.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABT shares. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Finally, Citigroup dropped their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

View Our Latest Stock Analysis on ABT

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Profile

(Free Report)

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.

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

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