Conscious Wealth Investments LLC Acquires 295 Shares of Abbott Laboratories (NYSE:ABT)

Conscious Wealth Investments LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 24,598 shares of the healthcare product maker’s stock after purchasing an additional 295 shares during the period. Conscious Wealth Investments LLC’s holdings in Abbott Laboratories were worth $2,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter valued at about $28,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $30,000. Finally, True Wealth Design LLC raised its position in shares of Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.1 %

ABT opened at $117.63 on Tuesday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a market capitalization of $204.63 billion, a P/E ratio of 36.64, a P/E/G 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. The firm’s fifty day moving average price is $109.55 and its two-hundred day moving average price is $108.57.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. The Goldman Sachs Group began coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Evercore ISI cut their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories 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.