Total Clarity Wealth Management Inc. Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

Total Clarity Wealth Management Inc. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,327 shares of the healthcare product maker’s stock after selling 215 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Abbott Laboratories were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after buying an additional 701,740 shares in the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $16,764,000. Garde Capital Inc. boosted its stake in shares of Abbott Laboratories by 16.4% in the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after purchasing an additional 262 shares during the period. Sectoral Asset Management Inc. grew its holdings in Abbott Laboratories by 31.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock valued at $7,595,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Abbott Laboratories by 0.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock worth $98,490,000 after buying an additional 8,224 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 1.1 %

ABT stock opened at $117.63 on Tuesday. The firm has a market cap of $204.63 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a fifty day moving average price of $109.55 and a two-hundred day moving average price of $108.57. 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 (NYSE:ABT) last announced its quarterly earnings data 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. 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 earned $1.08 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

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.