Wealth Dimensions Group Ltd. Sells 189 Shares of Abbott Laboratories (NYSE:ABT)

Wealth Dimensions Group Ltd. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,040 shares of the healthcare product maker’s stock after selling 189 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Abbott Laboratories were worth $420,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bruce & Co. Inc. boosted its stake in Abbott Laboratories by 1.5% during the second quarter. Bruce & Co. Inc. now owns 152,300 shares of the healthcare product maker’s stock worth $15,825,000 after acquiring an additional 2,300 shares in the last quarter. Marble Harbor Investment Counsel LLC lifted its holdings in shares of Abbott Laboratories by 0.4% during the second quarter. Marble Harbor Investment Counsel LLC now owns 198,237 shares of the healthcare product maker’s stock valued at $20,599,000 after purchasing an additional 874 shares during the last quarter. Fairfield Financial Advisors LTD bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $3,194,000. Rathbones Group PLC increased its position in Abbott Laboratories by 5.4% during the 2nd quarter. Rathbones Group PLC now owns 2,507,626 shares of the healthcare product maker’s stock valued at $260,567,000 after buying an additional 128,252 shares in the last quarter. Finally, Plato Investment Management Ltd raised its stake in Abbott Laboratories by 7.2% during the second quarter. Plato Investment Management Ltd now owns 44,510 shares of the healthcare product maker’s stock valued at $4,625,000 after buying an additional 2,987 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABT. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Barclays increased their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $116.40 on Monday. The firm has a market capitalization of $202.49 billion, a P/E ratio of 36.26, a PEG ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The business has a fifty day moving average of $109.24 and a 200 day moving average of $108.57.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

About Abbott Laboratories

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.