O Brien Greene & Co. Inc lessened its stake in Abbott Laboratories (NYSE:ABT) by 55.7% in the 1st quarter, HoldingsChannel reports. The fund owned 15,123 shares of the healthcare product maker’s stock after selling 19,000 shares during the quarter. O Brien Greene & Co. Inc’s holdings in Abbott Laboratories were worth $1,209,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. 1 North Wealth Services LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $33,000. Beacon Capital Management Inc. bought a new position in Abbott Laboratories during the 1st quarter worth approximately $38,000. Exane Derivatives bought a new position in Abbott Laboratories during the 4th quarter worth approximately $42,000. Clarfeld Financial Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $43,000. Finally, Investors Research Corp bought a new position in Abbott Laboratories during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 73.42% of the company’s stock.
Shares of ABT opened at $81.95 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. Abbott Laboratories has a twelve month low of $60.31 and a twelve month high of $82.00. The company has a market capitalization of $143.11 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.28 and a beta of 1.08.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The firm had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 3.22 earnings per share for the current year.
ABT has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.24.
In other news, SVP Jaime Contreras sold 918 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $73.12, for a total value of $67,124.16. Following the sale, the senior vice president now owns 34,706 shares of the company’s stock, valued at $2,537,702.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Miles D. White sold 75,739 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $78.61, for a total transaction of $5,953,842.79. Following the completion of the sale, the chairman now directly owns 3,469,165 shares in the company, valued at approximately $272,711,060.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 980,493 shares of company stock worth $74,796,843. Insiders own 0.70% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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