Financial & Tax Architects LLC Grows Stake in Abbott Laboratories (NYSE:ABT)

Financial & Tax Architects LLC grew its position in Abbott Laboratories (NYSE:ABT) by 9.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 56,553 shares of the healthcare product maker’s stock after purchasing an additional 4,672 shares during the period. Abbott Laboratories accounts for about 1.6% of Financial & Tax Architects LLC’s portfolio, making the stock its 24th biggest position. Financial & Tax Architects LLC’s holdings in Abbott Laboratories were worth $5,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC grew its holdings in Abbott Laboratories by 1.5% in the second quarter. Axxcess Wealth Management LLC now owns 113,244 shares of the healthcare product maker’s stock worth $11,767,000 after purchasing an additional 1,626 shares during the last quarter. Sargent Investment Group LLC grew its holdings in shares of Abbott Laboratories by 767.3% during the second quarter. Sargent Investment Group LLC now owns 45,586 shares of the healthcare product maker’s stock valued at $4,737,000 after buying an additional 40,330 shares during the last quarter. Stock Yards Bank & Trust Co. grew its holdings in shares of Abbott Laboratories by 0.3% during the second quarter. Stock Yards Bank & Trust Co. now owns 357,575 shares of the healthcare product maker’s stock valued at $37,156,000 after buying an additional 1,006 shares during the last quarter. Conscious Wealth Investments LLC grew its holdings in shares of Abbott Laboratories by 1.2% during the second quarter. Conscious Wealth Investments LLC now owns 24,598 shares of the healthcare product maker’s stock valued at $2,556,000 after buying an additional 295 shares during the last quarter. Finally, Old West Investment Management LLC grew its holdings in shares of Abbott Laboratories by 21.7% during the second quarter. Old West Investment Management LLC now owns 18,976 shares of the healthcare product maker’s stock valued at $1,972,000 after buying an additional 3,389 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 approximately $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

Shares of Abbott Laboratories stock opened at $118.13 on Wednesday. The firm has a 50-day simple moving average of $109.88 and a two-hundred day simple moving average of $108.56. The company has a market cap of $205.50 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABT shares. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Evercore ISI lowered their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Company 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.