GDS Wealth Management Sells 219 Shares of Abbott Laboratories (NYSE:ABT)

GDS Wealth Management trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,212 shares of the healthcare product maker’s stock after selling 219 shares during the period. GDS Wealth Management’s holdings in Abbott Laboratories were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its position in shares of Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after purchasing an additional 1,120 shares during the period. Accretive Wealth Partners LLC grew its stake in Abbott Laboratories by 1.2% in the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after buying an additional 152 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in Abbott Laboratories by 13.3% during the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after acquiring an additional 413 shares during the period. Gryphon Financial Partners LLC boosted its holdings in shares of Abbott Laboratories by 3.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock worth $12,252,000 after acquiring an additional 3,767 shares during the period. Finally, Jump Financial LLC grew its position in shares of Abbott Laboratories by 34.3% in the fourth quarter. Jump Financial LLC now owns 7,030 shares of the healthcare product maker’s stock valued at $774,000 after purchasing an additional 1,794 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 1.1 %

NYSE ABT opened at $117.63 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $109.55 and its two-hundred day simple moving average is $108.57. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a market capitalization of $204.63 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the company posted $1.08 EPS. Abbott Laboratories’s quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABT shares. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Barclays raised their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI decreased their target price 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. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Finally, Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target 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.