Neo Ivy Capital Management Invests $3.73 Million in Abbott Laboratories (NYSE:ABT)

Neo Ivy Capital Management acquired a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,946 shares of the healthcare product maker's stock, valued at approximately $3,726,000. Abbott Laboratories accounts for about 0.8% of Neo Ivy Capital Management's portfolio, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter valued at $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at $26,000. NewSquare Capital LLC lifted its position in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth about $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Finally, Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the firm's 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 transaction, the executive vice president now directly owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is owned by insiders.

Abbott Laboratories Stock Down 0.1%

ABT stock traded down $0.19 during trading on Monday, hitting $131.31. 6,144,711 shares of the stock traded hands, compared to its average volume of 6,142,655. The stock has a market cap of $228.46 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm's 50 day moving average is $129.87 and its two-hundred day moving average is $124.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released 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 company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

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.