Clifford Group LLC Has $598,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Clifford Group LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,756 shares of the healthcare product maker’s stock after purchasing an additional 103 shares during the quarter. Clifford Group LLC’s holdings in Abbott Laboratories were worth $598,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ABT. GM Advisory Group LLC raised its holdings in shares of Abbott Laboratories by 2.4% in the 2nd quarter. GM Advisory Group LLC now owns 4,979 shares of the healthcare product maker’s stock worth $517,000 after acquiring an additional 116 shares during the last quarter. Ieq Capital LLC grew its position in shares of Abbott Laboratories by 2.0% during the 2nd quarter. Ieq Capital LLC now owns 108,990 shares of the healthcare product maker’s stock valued at $11,325,000 after acquiring an additional 2,154 shares during the period. Intech Investment Management LLC boosted its holdings in Abbott Laboratories by 10.0% in the 2nd quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock worth $3,670,000 after buying an additional 3,200 shares during the period. Delaney Dennis R boosted its holdings in Abbott Laboratories by 0.4% in the 2nd quarter. Delaney Dennis R now owns 59,366 shares of the healthcare product maker’s stock worth $6,169,000 after buying an additional 210 shares during the period. Finally, MQS Management LLC boosted its holdings in Abbott Laboratories by 3.8% in the 2nd quarter. MQS Management LLC now owns 6,786 shares of the healthcare product maker’s stock worth $705,000 after buying an additional 250 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Activity

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

Abbott Laboratories Trading Down 0.6 %

Shares of ABT opened at $114.15 on Friday. The firm’s 50-day moving average price is $110.32 and its 200-day moving average price is $108.64. The firm has a market capitalization of $198.58 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.90 and a beta of 0.72. 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 has a 1-year low of $89.67 and a 1-year 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, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates 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 firm posted $1.08 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler started coverage on shares of Abbott Laboratories in a research report on Thursday. They issued an “overweight” rating and a $131.00 target price on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.33.

About Abbott Laboratories

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.