Abbott Laboratories (NYSE:ABT) Shares Bought by Heritage Family Offices LLP

Heritage Family Offices LLP raised its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 94.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,808 shares of the healthcare product maker's stock after purchasing an additional 7,180 shares during the quarter. Abbott Laboratories accounts for approximately 1.0% of Heritage Family Offices LLP's investment portfolio, making the stock its 24th biggest holding. Heritage Family Offices LLP's holdings in Abbott Laboratories were worth $1,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Three Seasons Wealth LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $1,428,000. Welch Group LLC grew its stake in shares of Abbott Laboratories by 5.3% in the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock valued at $7,744,000 after buying an additional 3,479 shares during the period. Voleon Capital Management LP purchased a new position in Abbott Laboratories in the fourth quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Abbott Laboratories by 5.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after purchasing an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Down 0.5%

Shares of NYSE ABT traded down $0.72 during mid-day trading on Wednesday, reaching $132.99. The company had a trading volume of 4,052,859 shares, compared to its average volume of 6,155,663. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock has a market cap of $231.38 billion, a P/E ratio of 17.38, a PEG ratio of 2.52 and a beta of 0.74. The firm has a 50 day simple moving average of $130.64 and a two-hundred day simple moving average of $125.49.

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

Insider Buying and Selling

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. The trade was a 55.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the subject of several research analyst reports. Jefferies Financial Group raised their price target 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 raised their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 10th. Barclays boosted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average price target of $142.59.

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.