Sand Hill Global Advisors LLC Buys 550 Shares of Abbott Laboratories (NYSE:ABT)

Sand Hill Global Advisors LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 69,171 shares of the healthcare product maker’s stock after acquiring an additional 550 shares during the period. Sand Hill Global Advisors LLC’s holdings in Abbott Laboratories were worth $7,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC UT boosted its position in Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares during the period. Rappaport Reiches Capital Management LLC boosted its position in Abbott Laboratories by 0.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after purchasing an additional 94 shares during the period. Avion Wealth lifted its holdings in shares of Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after buying an additional 96 shares during the last quarter. Berger Financial Group Inc lifted its holdings in shares of Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after buying an additional 99 shares during the last quarter. Finally, Renaissance Investment Group LLC lifted its holdings in shares of Abbott Laboratories by 0.7% during the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after buying an additional 100 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABT. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Evercore ISI upped 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. Barclays cut 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 cut 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.60.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 46,884 shares of company stock worth $5,153,916 over the last three months. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $1.86 during midday trading on Wednesday, reaching $104.82. The company’s stock had a trading volume of 5,933,166 shares, compared to its average volume of 5,649,589. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a market capitalization of $182.35 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The business’s fifty day simple moving average is $108.89 and its 200-day simple moving average is $109.54.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect 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.