Abbott Laboratories (NYSE:ABT) Shares Acquired by Argent Trust Co

Argent Trust Co raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,153 shares of the healthcare product maker’s stock after purchasing an additional 6,396 shares during the quarter. Abbott Laboratories comprises 1.2% of Argent Trust Co’s holdings, making the stock its 17th biggest position. Argent Trust Co’s holdings in Abbott Laboratories were worth $16,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Abbott Laboratories by 11.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,222 shares of the healthcare product maker’s stock worth $866,000 after acquiring an additional 760 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Abbott Laboratories by 1.2% in the first quarter. CIBC Private Wealth Group LLC now owns 4,558,918 shares of the healthcare product maker’s stock worth $546,341,000 after acquiring an additional 52,522 shares during the period. Quilter Plc increased its stake in shares of Abbott Laboratories by 9.8% in the first quarter. Quilter Plc now owns 17,313 shares of the healthcare product maker’s stock worth $2,075,000 after acquiring an additional 1,549 shares during the period. Ropes Wealth Advisors LLC increased its stake in shares of Abbott Laboratories by 15.1% in the first quarter. Ropes Wealth Advisors LLC now owns 42,566 shares of the healthcare product maker’s stock worth $5,039,000 after acquiring an additional 5,573 shares during the period. Finally, MV Capital Management Inc. grew its position in Abbott Laboratories by 15.2% during the first quarter. MV Capital Management Inc. now owns 18,785 shares of the healthcare product maker’s stock valued at $2,251,000 after buying an additional 2,484 shares during the period. Institutional investors and hedge funds own 73.03% of the company’s stock.

In related news, SVP Jared Watkin sold 94,576 shares of the firm’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $119.90, for a total transaction of $11,339,662.40. Following the completion of the sale, the senior vice president now directly owns 59,783 shares in the company, valued at $7,167,981.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

Several research firms recently commented on ABT. BTIG Research dropped their price target on shares of Abbott Laboratories from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, June 2nd. Raymond James dropped their price target on shares of Abbott Laboratories from $130.00 to $116.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 2nd. Barclays dropped their price target on shares of Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell decreased their price objective on shares of Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, June 2nd. Finally, Morgan Stanley decreased their price objective on shares of Abbott Laboratories from $140.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $122.00.

Abbott Laboratories stock traded down $0.29 during midday trading on Friday, hitting $109.86. 204,094 shares of the stock were exchanged, compared to its average volume of 5,708,611. Abbott Laboratories has a fifty-two week low of $86.16 and a fifty-two week high of $128.54. The firm has a market cap of $195.20 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. The stock’s 50-day moving average price is $117.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.75 and a quick ratio of 1.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.72 billion. During the same period last year, the business earned $0.65 earnings per share. Abbott Laboratories’s revenue was up 35.2% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.35 EPS for the current fiscal year.

Abbott Laboratories Company Profile

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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