Rhumbline Advisers Has $417.44 Million Stake in Abbott Laboratories (NYSE:ABT)

Rhumbline Advisers decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,146,922 shares of the healthcare product maker's stock after selling 34,397 shares during the quarter. Rhumbline Advisers owned about 0.18% of Abbott Laboratories worth $417,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABT. Three Seasons Wealth LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at $1,428,000. Welch Group LLC lifted its holdings in shares of Abbott Laboratories by 5.3% in the fourth quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock valued at $7,744,000 after purchasing an additional 3,479 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich raised 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 grew its holdings in Abbott Laboratories by 1.9% during 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 buying an additional 2,774 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 17th. Wall Street Zen lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Four 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 stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $142.59.

Abbott Laboratories Stock Up 0.1%

Shares of NYSE:ABT traded up $0.17 during midday trading on Thursday, hitting $133.13. 2,340,984 shares of the stock were exchanged, compared to its average volume of 6,140,797. 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 company has a market capitalization of $231.63 billion, a PE ratio of 17.40, a P/E/G ratio of 2.52 and a beta of 0.74. The business's fifty day simple moving average is $130.69 and its two-hundred day simple moving average is $125.54. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

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 analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.