Butensky & Cohen Financial Security Inc. Has $1.686 Million Stake in Abbott Laboratories (ABT)

Butensky & Cohen Financial Security Inc. raised its position in Abbott Laboratories (NYSE:ABT) by 0.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,972 shares of the healthcare product maker’s stock after buying an additional 25 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Abbott Laboratories were worth $1,686,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Meristem LLP increased its stake in shares of Abbott Laboratories by 9.5% in the third quarter. Meristem LLP now owns 12,313 shares of the healthcare product maker’s stock worth $521,000 after buying an additional 1,072 shares during the period. Sabal Trust CO increased its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Sabal Trust CO now owns 9,156 shares of the healthcare product maker’s stock worth $387,000 after buying an additional 34 shares during the period. State of Wisconsin Investment Board increased its stake in shares of Abbott Laboratories by 30.1% in the third quarter. State of Wisconsin Investment Board now owns 2,138,006 shares of the healthcare product maker’s stock worth $90,416,000 after buying an additional 495,228 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in shares of Abbott Laboratories by 1.0% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 452,689 shares of the healthcare product maker’s stock worth $19,144,000 after buying an additional 4,622 shares during the period. Finally, Pineno Levin & Ford Asset Management Inc. increased its stake in shares of Abbott Laboratories by 0.5% in the third quarter. Pineno Levin & Ford Asset Management Inc. now owns 87,438 shares of the healthcare product maker’s stock worth $3,698,000 after buying an additional 445 shares during the period. Institutional investors own 62.20% of the company’s stock.

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

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.55% during midday trading on Thursday, reaching $43.77. 1,323,494 shares of the company’s stock were exchanged. Abbott Laboratories has a 1-year low of $36.76 and a 1-year high of $45.84. The company has a market capitalization of $75.95 billion, a PE ratio of 45.55 and a beta of 0.97. The firm has a 50-day moving average of $43.74 and a 200-day moving average of $42.19.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.05. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.16 billion. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The company’s revenue was up 29.7% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Equities analysts expect that Abbott Laboratories will post $2.47 earnings per share for the current fiscal year.

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A number of equities research analysts have recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price target (up from $51.00) on shares of Abbott Laboratories in a report on Saturday, March 11th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Wednesday, March 8th. BMO Capital Markets downgraded shares of Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Tuesday, March 14th. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.67.

In related news, insider Joseph J. Manning sold 4,200 shares of Abbott Laboratories stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $43.95, for a total value of $184,590.00. Following the completion of the sale, the insider now directly owns 26,224 shares in the company, valued at $1,152,544.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Warmuth sold 3,851 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $45.39, for a total value of $174,796.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,651 shares of company stock valued at $604,779. Corporate insiders own 0.26% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

12 Month Chart for NYSE:ABT

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