Fairtree Asset Management Pty Ltd Invests $662,000 in Abbott Laboratories (NYSE:ABT)

Fairtree Asset Management Pty Ltd purchased a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,854 shares of the healthcare product maker's stock, valued at approximately $662,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cim LLC boosted its position in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock worth $140,000 after purchasing an additional 76 shares in the last quarter. Capital Square LLC boosted its position in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after purchasing an additional 77 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after purchasing an additional 79 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC boosted its position in Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock worth $320,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Price Performance

NYSE ABT traded up $0.83 during mid-day trading on Friday, hitting $133.68. The stock had a trading volume of 14,235,633 shares, compared to its average volume of 6,164,803. The firm's 50 day moving average is $130.30 and its 200 day moving average is $125.06. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $232.58 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.52 and a beta of 0.74.

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

Analyst Ratings Changes

Several research firms have commented on ABT. Royal Bank of Canada upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Bank of America increased their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Barclays increased their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.59.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company's stock, valued at $10,277,222.77. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock valued at $12,745,859 in the last three months. 0.46% of the stock is currently 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.