Ieq Capital LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Ieq Capital LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 108,990 shares of the healthcare product maker’s stock after acquiring an additional 2,154 shares during the quarter. Ieq Capital LLC’s holdings in Abbott Laboratories were worth $11,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC increased its position in shares of Abbott Laboratories by 10.0% during the second quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock valued at $3,670,000 after acquiring an additional 3,200 shares during the last quarter. Delaney Dennis R increased its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Delaney Dennis R now owns 59,366 shares of the healthcare product maker’s stock valued at $6,169,000 after purchasing an additional 210 shares during the last quarter. MQS Management LLC raised its stake in shares of Abbott Laboratories by 3.8% during the 2nd quarter. MQS Management LLC now owns 6,786 shares of the healthcare product maker’s stock worth $705,000 after purchasing an additional 250 shares during the period. XTX Topco Ltd boosted its holdings in shares of Abbott Laboratories by 697.2% in the 2nd quarter. XTX Topco Ltd now owns 33,331 shares of the healthcare product maker’s stock worth $3,463,000 after buying an additional 29,150 shares during the last quarter. Finally, Concorde Asset Management LLC grew its position 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 valued at $237,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Barclays lifted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Abbott Laboratories Trading Down 0.6 %

Shares of Abbott Laboratories stock opened at $114.15 on Friday. The company’s 50-day moving average price is $110.32 and its 200-day moving average price is $108.64. The company has a market cap of $198.58 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

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