Mark Sheptoff Financial Planning LLC Sells 1,567 Shares of Abbott Laboratories (NYSE:ABT)

Mark Sheptoff Financial Planning LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,760 shares of the healthcare product maker’s stock after selling 1,567 shares during the period. Abbott Laboratories comprises 2.5% of Mark Sheptoff Financial Planning LLC’s holdings, making the stock its 9th largest position. Mark Sheptoff Financial Planning LLC’s holdings in Abbott Laboratories were worth $4,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Concorde Asset Management LLC boosted its holdings in Abbott Laboratories by 5.6% during the second quarter. Concorde Asset Management LLC now owns 2,277 shares of the healthcare product maker’s stock worth $237,000 after purchasing an additional 120 shares during the last quarter. Miramar Capital LLC lifted its position in Abbott Laboratories by 1.5% during the 2nd quarter. Miramar Capital LLC now owns 112,211 shares of the healthcare product maker’s stock worth $11,660,000 after buying an additional 1,695 shares in the last quarter. Sienna Gestion boosted its stake in shares of Abbott Laboratories by 12.6% during the 2nd quarter. Sienna Gestion now owns 3,801 shares of the healthcare product maker’s stock worth $395,000 after buying an additional 424 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of Abbott Laboratories by 12.8% in the second quarter. Carolinas Wealth Consulting LLC now owns 20,580 shares of the healthcare product maker’s stock valued at $2,138,000 after acquiring an additional 2,330 shares during the last quarter. Finally, Seven Eight Capital LP raised its holdings in Abbott Laboratories by 185.2% during the second quarter. Seven Eight Capital LP now owns 39,850 shares of the healthcare product maker’s stock worth $4,141,000 after acquiring an additional 25,878 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 2.8 %

Shares of ABT opened at $114.87 on Thursday. The firm’s 50-day simple moving average is $110.12 and its 200 day simple moving average is $108.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm has a market cap of $199.83 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

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

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.