7,062 Shares in Abbott Laboratories (NYSE:ABT) Purchased by Wright Investors Service Inc.

Wright Investors Service Inc. bought a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,062 shares of the healthcare product maker's stock, valued at approximately $937,000.

Several other large investors have also added to or reduced their stakes in ABT. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after purchasing an additional 739,260 shares in the last quarter. Capital International Investors grew its holdings in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares during the period. Capital Research Global Investors raised its position in shares of Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock worth $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after buying an additional 765,636 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after acquiring an additional 581,325 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Down 0.5%

Shares of NYSE ABT traded down $0.72 during trading hours on Wednesday, hitting $132.99. 4,052,846 shares of the company traded hands, compared to its average volume of 6,146,581. The company's 50 day moving average price is $130.64 and its 200 day moving average price is $125.49. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock has a market capitalization of $231.38 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

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, topping 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 the consensus estimate of $10.38 billion. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on ABT. Wall Street Zen downgraded 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 shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Bank of America upped their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Thursday, April 17th. Finally, Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

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.