Retirement Planning Group LLC NY Takes Position in Abbott Laboratories (NYSE:ABT)

Retirement Planning Group LLC NY bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,249 shares of the healthcare product maker's stock, valued at approximately $368,000.

A number of other large investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. boosted its position in shares of Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after buying an additional 76 shares during the period. Capital Square LLC boosted its holdings in Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after acquiring an additional 77 shares during the period. Cyrus J. Lawrence LLC grew 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 valued at $107,000 after acquiring an additional 79 shares during the last quarter. LMG Wealth Partners LLC increased its stake in Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker's stock worth $244,000 after purchasing an additional 80 shares during the period. Finally, Jacobson & Schmitt Advisors LLC lifted its position in shares of Abbott Laboratories by 2.9% during the fourth 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 during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT traded down $0.88 during trading on Wednesday, reaching $132.06. 3,615,597 shares of the company's stock were exchanged, compared to its average volume of 6,130,390. 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 company's fifty day simple moving average is $130.07 and its 200-day simple moving average is $124.90. The stock has a market capitalization of $229.76 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74.

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

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock valued at $12,745,859 in the last quarter. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ABT shares. Wall Street Zen downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Barclays upped their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Finally, Morgan Stanley lifted 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. 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.59.

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.