Luts & Greenleigh Group Inc. Acquires Shares of 14,217 Abbott Laboratories (NYSE:ABT)

Luts & Greenleigh Group Inc. bought a new stake in Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,217 shares of the healthcare product maker’s stock, valued at approximately $1,477,000. Abbott Laboratories makes up approximately 1.5% of Luts & Greenleigh Group Inc.’s holdings, making the stock its 12th biggest holding.

A number of other institutional investors have also made changes to their positions in ABT. Hanson & Doremus Investment Management raised its stake in shares of Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after acquiring an additional 92 shares during the last quarter. Encompass More Asset Management lifted its holdings in Abbott Laboratories by 3.3% during the 2nd quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after buying an additional 96 shares in the last quarter. Wynn Capital LLC raised its position in shares of Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after acquiring an additional 98 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC boosted its holdings in Abbott Laboratories by 1.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock valued at $613,000 after acquiring an additional 100 shares during the last quarter. Finally, Hummer Financial Advisory Services Inc increased its position in Abbott Laboratories by 1.2% in the first quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock worth $942,000 after purchasing an additional 100 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Up 1.1 %

NYSE:ABT opened at $117.63 on Tuesday. The stock has a 50-day simple moving average of $109.55 and a 200 day simple moving average of $108.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a market cap of $204.63 billion, a PE ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABT. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barclays lifted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Finally, Evercore ISI decreased their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.80.

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.