SYSTM Wealth Solutions LLC Decreases Stock Holdings in Abbott Laboratories (NYSE:ABT)

SYSTM Wealth Solutions LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 54.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,752 shares of the healthcare product maker’s stock after selling 26,781 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Abbott Laboratories were worth $2,364,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ABT. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares in the last quarter. Capital International Investors increased its holdings in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares in the last quarter. Swedbank AB acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $341,777,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after acquiring an additional 1,996,320 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

Abbott Laboratories stock opened at $118.13 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The stock’s 50 day simple moving average is $109.88 and its two-hundred day simple moving average is $108.56. The firm has a market cap of $205.50 billion, a PE ratio of 36.80, a P/E/G ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) 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 firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ABT shares. Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Evercore ISI cut their price target 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.