NBC Securities Inc. Buys 17,311 Shares of Abbott Laboratories (NYSE:ABT)

NBC Securities Inc. grew its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 108,193.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,327 shares of the healthcare product maker's stock after buying an additional 17,311 shares during the quarter. NBC Securities Inc.'s holdings in Abbott Laboratories were worth $2,298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Enterprise Bank & Trust Co boosted its position in Abbott Laboratories by 1.9% in the first quarter. Enterprise Bank & Trust Co now owns 28,651 shares of the healthcare product maker's stock worth $3,801,000 after purchasing an additional 548 shares during the last quarter. Worth Asset Management LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $1,457,000. Fiduciary Alliance LLC grew its position in Abbott Laboratories by 29.4% during the first quarter. Fiduciary Alliance LLC now owns 23,206 shares of the healthcare product maker's stock valued at $3,078,000 after buying an additional 5,270 shares during the period. Woodstock Corp increased its holdings in Abbott Laboratories by 3.1% during the first quarter. Woodstock Corp now owns 136,620 shares of the healthcare product maker's stock worth $18,123,000 after buying an additional 4,151 shares during the last quarter. Finally, Wright Investors Service Inc. bought a new stake in Abbott Laboratories in the first quarter worth about $937,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Price Performance

ABT traded up $0.17 on Tuesday, reaching $133.74. The company had a trading volume of 5,914,174 shares, compared to its average volume of 6,150,017. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a market cap of $232.69 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business has a 50 day simple moving average of $130.60 and a 200 day simple moving average of $125.43.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results 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 during the quarter, compared to analyst estimates of $10.38 billion. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Morgan Stanley increased their price target on Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Raymond James raised their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The shares were 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 of the company's stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

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.