Abbott Laboratories (NYSE:ABT) Shares Bought by Fairhaven Wealth Management LLC

Fairhaven Wealth Management LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 196.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,834 shares of the healthcare product maker's stock after buying an additional 10,495 shares during the quarter. Fairhaven Wealth Management LLC's holdings in Abbott Laboratories were worth $1,743,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Boston Partners raised its holdings in shares of Abbott Laboratories by 12,577.8% during the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker's stock worth $415,948,000 after purchasing an additional 3,742,912 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Abbott Laboratories by 14,037.9% during the 4th quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker's stock valued at $148,504,000 after buying an additional 1,339,633 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker's stock valued at $3,022,564,000 after buying an additional 1,298,219 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Abbott Laboratories by 24.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,226,618 shares of the healthcare product maker's stock worth $575,304,000 after buying an additional 1,040,046 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Abbott Laboratories by 30.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker's stock worth $351,311,000 after acquiring an additional 853,997 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the company's stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company's stock, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,884 shares of company stock valued at $5,153,916. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on ABT. Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Raymond James restated a "buy" rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 22nd. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reduced their price target on Abbott Laboratories from $128.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $121.50.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $0.76 during mid-day trading on Friday, reaching $104.11. 7,004,247 shares of the stock traded hands, compared to its average volume of 5,639,774. The stock has a market capitalization of $181.11 billion, a PE ratio of 32.43, a PEG ratio of 2.52 and a beta of 0.76. The business has a 50-day moving average of $109.59 and a 200 day moving average of $109.23. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm's revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 4.62 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.