Abbrea Capital LLC Has $3.43 Million Holdings in Abbott Laboratories (NYSE:ABT)

Abbrea Capital LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,999 shares of the healthcare product maker’s stock after selling 721 shares during the period. Abbrea Capital LLC’s holdings in Abbott Laboratories were worth $3,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after buying an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. purchased a new stake in Abbott Laboratories in the 4th quarter valued at about $16,764,000. Garde Capital Inc. increased its stake in Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 262 shares during the last quarter. Haverford Trust Co increased its stake in Abbott Laboratories by 0.7% in the 4th quarter. Haverford Trust Co now owns 93,879 shares of the healthcare product maker’s stock valued at $10,333,000 after buying an additional 664 shares during the last quarter. Finally, Sectoral Asset Management Inc. increased its stake in Abbott Laboratories by 31.4% in the 4th quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock valued at $7,595,000 after buying an additional 16,500 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $116.84 on Friday. The stock has a market cap of $203.26 billion, a PE ratio of 36.40, a PEG ratio of 2.83 and a beta of 0.72. The company’s fifty day moving average is $108.99 and its 200 day moving average is $108.74. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. Research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABT shares. Evercore ISI decreased their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Profile

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.