Timber Hill LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 6.7% in the first quarter, Holdings Channel reports. The institutional investor owned 96,956 shares of the healthcare product maker’s stock after buying an additional 6,047 shares during the period. Abbott Laboratories accounts for 0.9% of Timber Hill LLC’s holdings, making the stock its 21st biggest holding. Timber Hill LLC’s holdings in Abbott Laboratories were worth $5,810,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $102,000. Icon Wealth Partners LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $102,000. SWS Partners purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $104,000. Cerebellum GP LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $133,000. Finally, We Are One Seven LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $138,000. Institutional investors own 72.09% of the company’s stock.
ABT has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Friday, April 20th. Royal Bank of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Finally, Argus increased their price objective on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.35.
In other news, Director Daniel J. Starks purchased 40,037 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $60.67 per share, with a total value of $2,429,044.79. Following the purchase, the director now directly owns 6,943,348 shares of the company’s stock, valued at $421,252,923.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen R. Fussell sold 56,401 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the sale, the insider now directly owns 184,884 shares in the company, valued at $11,020,935.24. The disclosure for this sale can be found here. Insiders have sold a total of 86,214 shares of company stock worth $5,173,042 over the last ninety days. 0.74% of the stock is owned by corporate insiders.
Abbott Laboratories opened at $61.71 on Monday, Marketbeat Ratings reports. Abbott Laboratories has a 12-month low of $43.10 and a 12-month high of $64.60. The stock has a market cap of $108.19 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.77 and a beta of 1.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.66.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same period last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. equities research analysts expect that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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