Gabelli Funds LLC Sells 1,000 Shares of Abbott Laboratories (NYSE:ABT)

Gabelli Funds LLC trimmed its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,400 shares of the healthcare product maker’s stock after selling 1,000 shares during the quarter. Gabelli Funds LLC’s holdings in Abbott Laboratories were worth $9,204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABT. Capital Investment Advisors LLC raised its holdings in Abbott Laboratories by 4.2% during the 4th quarter. Capital Investment Advisors LLC now owns 13,335 shares of the healthcare product maker’s stock worth $1,877,000 after purchasing an additional 534 shares during the last quarter. Minot Wealth Management LLC raised its holdings in Abbott Laboratories by 3.8% during the 4th quarter. Minot Wealth Management LLC now owns 58,450 shares of the healthcare product maker’s stock worth $8,226,000 after purchasing an additional 2,147 shares during the last quarter. Gradient Investments LLC raised its holdings in Abbott Laboratories by 6.2% during the 4th quarter. Gradient Investments LLC now owns 71,707 shares of the healthcare product maker’s stock worth $10,092,000 after purchasing an additional 4,160 shares during the last quarter. TRH Financial LLC raised its holdings in Abbott Laboratories by 17.4% during the 4th quarter. TRH Financial LLC now owns 59,726 shares of the healthcare product maker’s stock worth $8,406,000 after purchasing an additional 8,849 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its holdings in Abbott Laboratories by 6.4% during the 4th quarter. Carroll Financial Associates Inc. now owns 20,177 shares of the healthcare product maker’s stock worth $2,854,000 after purchasing an additional 1,213 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently commented on ABT shares. BTIG Research lowered their price target on Abbott Laboratories from $143.00 to $138.00 in a research note on Wednesday, January 26th. Royal Bank of Canada lowered their price target on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. Citigroup lowered their price target on Abbott Laboratories from $154.00 to $125.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. Bank of America started coverage on Abbott Laboratories in a research note on Tuesday, March 1st. They issued a “buy” rating and a $140.00 price target for the company. Finally, Raymond James lowered their price target on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $137.89.

In other Abbott Laboratories news, SVP Julie L. Tyler sold 462 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $119.29, for a total transaction of $55,111.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Randel William Woodgrift sold 964 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $118.10, for a total value of $113,848.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,896 shares of company stock worth $9,299,454. 0.52% of the stock is owned by company insiders.

NYSE ABT opened at $113.24 on Monday. The company has a market cap of $198.28 billion, a PE ratio of 26.27, a PEG ratio of 3.05 and a beta of 0.73. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 12 month low of $104.63 and a 12 month high of $142.60. The stock has a 50 day moving average of $117.00 and a 200-day moving average of $124.14.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The business had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same quarter in the prior year, the business earned $1.32 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 4.7 EPS for the current fiscal year.

Abbott Laboratories Profile (Get Rating)

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 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.

See Also

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.