Abbott Laboratories (NYSE:ABT) Shares Sold by Schulhoff & Co. Inc.

Schulhoff & Co. Inc. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,016 shares of the healthcare product maker’s stock after selling 1,085 shares during the quarter. Abbott Laboratories makes up 1.2% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its 23rd biggest holding. Schulhoff & Co. Inc.’s holdings in Abbott Laboratories were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth $30,000. Finally, True Wealth Design LLC increased its holdings in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

ABT opened at $116.40 on Friday. The business has a 50 day moving average price of $109.24 and a two-hundred day moving average price of $108.65. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market cap of $202.52 billion, a PE ratio of 36.26, a P/E/G ratio of 2.90 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. As a group, research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABT shares. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Evercore ISI cut 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. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Barclays raised 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Company Profile

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.