Virtu Financial LLC Decreases Holdings in Abbott Laboratories (NYSE:ABT)

Virtu Financial LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 49.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 19,390 shares of the healthcare product maker’s stock after selling 18,921 shares during the quarter. Virtu Financial LLC’s holdings in Abbott Laboratories were worth $2,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares in the last quarter. Capital Research Global Investors grew its position in shares of Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares during the last quarter. Capital International Investors lifted its position in Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Wellington Management Group LLP boosted its stake in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after acquiring an additional 1,027,390 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Abbott Laboratories by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 9,922,170 shares of the healthcare product maker’s stock worth $1,092,133,000 after purchasing an additional 228,039 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 in the company, valued at $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.4 %

ABT stock opened at $118.13 on Wednesday. The stock has a market capitalization of $205.50 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a fifty day moving average of $109.88 and a 200-day moving average of $108.56. 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 has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating 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 firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Analyst Ratings Changes

ABT has been the subject of several research reports. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Barclays lifted their target price 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. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.