Harbor Group Inc. Buys New Stake in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Harbor Group Inc. bought a new stake in Abbott Laboratories (NYSE:ABT – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,690 shares of the healthcare product maker’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tallon Kerry Patrick acquired a new position in Abbott Laboratories in the 4th quarter valued at $200,000. LaFleur & Godfrey LLC raised its holdings in Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after acquiring an additional 15,692 shares during the last quarter. Brighton Jones LLC raised its holdings in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Abbott Laboratories in the 4th quarter valued at $29,120,000. Finally, Stratos Wealth Advisors LLC raised its holdings in Abbott Laboratories by 0.5% in the 4th quarter. Stratos Wealth Advisors LLC now owns 22,476 shares of the healthcare product maker’s stock valued at $2,542,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.5%

Shares of Abbott Laboratories stock opened at $133.69 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $130.71 and a 200 day moving average price of $125.66. The stock has a market cap of $232.60 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James boosted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Bank of America upped their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Royal Bank of Canada upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Stifel Nicolaus upped their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Read Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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