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Evercore Wealth Management LLC Purchases 3,092 Shares of Abbott Laboratories (NYSE:ABT)

Evercore Wealth Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 843,351 shares of the healthcare product maker’s stock after purchasing an additional 3,092 shares during the quarter. Abbott Laboratories accounts for approximately 1.8% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. Evercore Wealth Management LLC’s holdings in Abbott Laboratories were worth $99,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $2,290,723,000. Jennison Associates LLC lifted its holdings in shares of Abbott Laboratories by 240.8% in the first quarter. Jennison Associates LLC now owns 6,052,143 shares of the healthcare product maker’s stock worth $716,332,000 after acquiring an additional 4,276,374 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Abbott Laboratories by 2.1% in the fourth quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after acquiring an additional 2,836,966 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Abbott Laboratories by 83.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock worth $582,924,000 after acquiring an additional 2,235,314 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 1.4% in the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock worth $17,906,500,000 after acquiring an additional 2,136,177 shares during the last quarter. Institutional investors own 73.03% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of research reports. StockNews.com upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 3rd. Royal Bank of Canada decreased their target price on shares of Abbott Laboratories from $143.00 to $132.00 in a research report on Thursday, July 21st. Morgan Stanley reduced their price objective on shares of Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Cowen reduced their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Finally, Citigroup reduced their price target on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.46.

Abbott Laboratories Stock Up 0.7 %

NYSE ABT opened at $109.29 on Tuesday. The stock’s 50-day moving average price is $107.86 and its 200-day moving average price is $112.57. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46. Abbott Laboratories has a 52 week low of $101.21 and a 52 week high of $142.60. The company has a market capitalization of $191.39 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.34. The business had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.99 earnings per share for the current year.

Insider Buying and Selling

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Robert B. Ford sold 102,425 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the transaction, the chief executive officer now directly owns 142,071 shares in the company, valued at approximately $14,931,662.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total value of $5,457,000.00. Following the sale, the director now owns 6,923,500 shares in the company, valued at approximately $755,630,790. The disclosure for this sale can be found here. In the last three months, insiders sold 204,788 shares of company stock valued at $21,776,756. Insiders own 0.52% of the company’s stock.

Abbott Laboratories Company 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.

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