Mercer Global Advisors Inc. ADV Has $17.55 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 151,387 shares of the healthcare product maker’s stock after acquiring an additional 10,432 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Abbott Laboratories were worth $17,550,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. 4Thought Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth $25,000. Holloway Wealth Management LLC grew its position in Abbott Laboratories by 150.0% during the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. Sierra Capital LLC bought a new stake in Abbott Laboratories during the 1st quarter worth $30,000. CKW Financial Group bought a new stake in Abbott Laboratories during the 2nd quarter worth $36,000. Finally, Lake Point Wealth Management bought a new stake in Abbott Laboratories during the 2nd quarter worth $37,000. 72.05% of the stock is owned by institutional investors.

A number of research firms have commented on ABT. Zacks Investment Research upgraded Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target on the stock in a research report on Tuesday, August 3rd. cut their target price on Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, June 2nd. BTIG Research upped their target price on Abbott Laboratories from $126.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, August 31st. Cowen upped their target price on Abbott Laboratories from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, August 23rd. Finally, Citigroup restated a “buy” rating and set a $125.00 target price (down previously from $138.00) on shares of Abbott Laboratories in a research report on Wednesday, June 2nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $128.93.

Shares of ABT opened at $127.00 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $225.15 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 2.45 and a beta of 0.66. The stock has a 50 day moving average of $123.08 and a 200 day moving average of $119.30. Abbott Laboratories has a 12 month low of $100.34 and a 12 month high of $129.70.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.15. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $9.67 billion. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. As a group, equities research analysts predict that Abbott Laboratories will post 4.42 earnings per share for the current year.

In other Abbott Laboratories news, SVP Randel William Woodgrift sold 6,350 shares of the firm’s stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $129.00, for a total transaction of $819,150.00. Following the sale, the senior vice president now owns 50,093 shares in the company, valued at $6,461,997. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $129.05, for a total value of $2,969,182.40. The disclosure for this sale can be found here. Insiders sold 222,883 shares of company stock valued at $27,964,400 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

Featured Article: Investing strategies using the yield curve

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.