Commerce Bank Has $51.16 Million Stake in Abbott Laboratories (NYSE:ABT)

Commerce Bank trimmed its stake in Abbott Laboratories (NYSE:ABT) by 37.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 464,755 shares of the healthcare product maker’s stock after selling 278,827 shares during the period. Commerce Bank’s holdings in Abbott Laboratories were worth $51,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $29,000. Stuart Chaussee & Associates Inc. grew its holdings in Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares during the period. Rise Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $37,000. Private Wealth Management Group LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $44,000. Finally, Cornerstone Planning Group LLC grew its holdings in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after acquiring an additional 201 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,884 shares of company stock valued at $5,153,916 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABT shares. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reduced their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Barclays reduced their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Citigroup reduced their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.60.

Abbott Laboratories Stock Down 0.5 %

NYSE ABT traded down $0.53 during trading hours on Thursday, hitting $104.29. The company’s stock had a trading volume of 3,888,468 shares, compared to its average volume of 5,630,301. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market capitalization of $181.43 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $108.59 and its two-hundred day simple moving average is $109.50.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Profile

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.