Orleans Capital Management Corp LA Purchases 1,555 Shares of Abbott Laboratories (NYSE:ABT)

Orleans Capital Management Corp LA increased its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,470 shares of the healthcare product maker’s stock after acquiring an additional 1,555 shares during the period. Abbott Laboratories makes up about 1.9% of Orleans Capital Management Corp LA’s holdings, making the stock its 19th biggest position. Orleans Capital Management Corp LA’s holdings in Abbott Laboratories were worth $2,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Signature Resources Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. True Wealth Design LLC boosted its stake in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. raised its holdings in Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new position in Abbott Laboratories in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ABT. Citigroup decreased their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Barclays decreased their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Finally, 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 note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Read Our Latest Research Report on ABT

Abbott Laboratories Trading Down 1.3 %

Shares of ABT traded down $1.34 during midday trading on Wednesday, reaching $104.47. The company had a trading volume of 2,123,233 shares, compared to its average volume of 5,674,495. The firm has a 50 day simple moving average of $106.08 and a 200-day simple moving average of $110.13. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $181.74 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

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

Insider Buying and Selling

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated 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 in the company, valued at $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

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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