Old West Investment Management LLC Has $1.97 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Old West Investment Management LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 21.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,976 shares of the healthcare product maker’s stock after acquiring an additional 3,389 shares during the period. Old West Investment Management LLC’s holdings in Abbott Laboratories were worth $1,972,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI lowered their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays increased their price target 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $117.63 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a market capitalization of $204.63 billion, a P/E ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72. The business has a fifty day moving average price of $109.55 and a 200-day moving average price of $108.57.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.