CCLA Investment Management Buys 65,090 Shares of Abbott Laboratories (NYSE:ABT)

CCLA Investment Management grew its position in Abbott Laboratories (NYSE:ABT) by 8.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 856,914 shares of the healthcare product maker’s stock after purchasing an additional 65,090 shares during the quarter. CCLA Investment Management’s holdings in Abbott Laboratories were worth $89,556,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

ABT has been the topic of several research reports. Evercore ISI dropped their price objective 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. Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Barclays lifted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Stock Up 0.4 %

ABT opened at $118.13 on Wednesday. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The firm has a market cap of $205.50 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 2.90 and a beta of 0.72. The firm’s 50-day simple moving average is $109.88 and its 200-day simple moving average is $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 (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.