Fluent Financial LLC Acquires 15,210 Shares of Abbott Laboratories (NYSE:ABT)

Fluent Financial LLC boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 217.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,217 shares of the healthcare product maker's stock after acquiring an additional 15,210 shares during the period. Abbott Laboratories accounts for 1.3% of Fluent Financial LLC's investment portfolio, making the stock its 21st biggest position. Fluent Financial LLC's holdings in Abbott Laboratories were worth $2,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABT. Vanguard Group Inc. raised its position in Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after purchasing an additional 739,260 shares during the last quarter. Capital International Investors increased its stake in shares of Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after buying an additional 2,229,026 shares during the period. Capital Research Global Investors raised its holdings in shares of Abbott Laboratories by 1.5% during the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Abbott Laboratories by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after acquiring an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock valued at $2,985,233,000 after purchasing an additional 581,325 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABT. Bank of America lifted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Citigroup lifted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Jefferies Financial Group upped their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Stock Down 0.2%

Abbott Laboratories stock traded down $0.33 during trading hours on Friday, hitting $133.61. The stock had a trading volume of 3,866,397 shares, compared to its average volume of 6,155,649. The stock's 50-day moving average price is $130.71 and its 200-day moving average price is $125.66. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $232.45 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now directly owns 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories 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.