Sendero Wealth Management LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Sendero Wealth Management LLC lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,683 shares of the healthcare product maker's stock after buying an additional 4,930 shares during the quarter. Sendero Wealth Management LLC's holdings in Abbott Laboratories were worth $4,070,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Three Seasons Wealth LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth about $1,428,000. Welch Group LLC grew its holdings in Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock worth $7,744,000 after acquiring an additional 3,479 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $273,000. Bank Julius Baer & Co. Ltd Zurich lifted 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 stake in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

NYSE:ABT traded up $0.73 during mid-day trading on Thursday, reaching $133.69. The stock had a trading volume of 5,576,936 shares, compared to its average volume of 6,153,383. 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 $130.69 and a 200 day simple moving average of $125.54. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market capitalization of $232.60 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.52 and a beta of 0.74.

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

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction 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 of the company's stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Royal Bank of Canada lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Wells Fargo & Company increased 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. Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Barclays boosted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Abbott Laboratories Company 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.