Retirement Systems of Alabama increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,686 shares of the healthcare product maker’s stock after buying an additional 117,042 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of Abbott Laboratories worth $57,897,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $4,680,000. Patten Group Inc. raised its position in shares of Abbott Laboratories by 66.0% in the third quarter. Patten Group Inc. now owns 2,516 shares of the healthcare product maker’s stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Cypress Capital Management LLC WY raised its position in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Abbott Laboratories during the first quarter valued at $112,000. Finally, First Command Financial Services Inc. raised its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares during the last quarter. 62.20% of the stock is currently owned by institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) opened at 44.71 on Friday. The firm’s 50-day moving average is $43.77 and its 200-day moving average is $42.22. The firm has a market capitalization of $77.58 billion, a P/E ratio of 46.52 and a beta of 0.97. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $45.84.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.05. The business had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.16 billion. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. Equities analysts anticipate that Abbott Laboratories will post $2.47 EPS for the current year.
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Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada reissued a “buy” rating on shares of Abbott Laboratories in a research report on Monday, May 15th. Goldman Sachs Group Inc assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $45.00 price objective on the stock. TheStreet lowered shares of Abbott Laboratories from a “b” rating to a “c+” rating in a research report on Thursday, May 18th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Abbott Laboratories in a research note on Friday, May 12th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.67.
In other Abbott Laboratories news, insider Joseph J. Manning sold 4,200 shares of Abbott Laboratories stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $43.95, for a total transaction of $184,590.00. Following the completion of the transaction, the insider now owns 26,224 shares of the company’s stock, valued at approximately $1,152,544.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Warmuth sold 3,851 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $45.39, for a total value of $174,796.89. The disclosure for this sale can be found here. Insiders have sold a total of 13,651 shares of company stock valued at $604,779 in the last ninety days. Insiders own 0.26% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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