Ritholtz Wealth Management Purchases 777 Shares of Abbott Laboratories (NYSE:ABT)

Ritholtz Wealth Management lifted its position in Abbott Laboratories (NYSE:ABT) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,567 shares of the healthcare product maker’s stock after purchasing an additional 777 shares during the quarter. Ritholtz Wealth Management’s holdings in Abbott Laboratories were worth $787,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Oak Ridge Investments LLC grew its position in Abbott Laboratories by 0.4% in the first quarter. Oak Ridge Investments LLC now owns 43,120 shares of the healthcare product maker’s stock worth $5,168,000 after acquiring an additional 160 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Abbott Laboratories in the first quarter worth $473,000. Norinchukin Bank The grew its position in Abbott Laboratories by 1.6% in the first quarter. Norinchukin Bank The now owns 147,352 shares of the healthcare product maker’s stock worth $17,659,000 after acquiring an additional 2,297 shares in the last quarter. Linscomb & Williams Inc. grew its position in Abbott Laboratories by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 104,444 shares of the healthcare product maker’s stock worth $12,517,000 after acquiring an additional 1,131 shares in the last quarter. Finally, Brinker Capital Investments LLC grew its position in Abbott Laboratories by 175.8% in the first quarter. Brinker Capital Investments LLC now owns 212,049 shares of the healthcare product maker’s stock worth $25,412,000 after acquiring an additional 135,172 shares in the last quarter. 73.03% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Jared Watkin sold 94,576 shares of the stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $119.90, for a total value of $11,339,662.40. Following the completion of the transaction, the senior vice president now directly owns 59,783 shares of the company’s stock, valued at $7,167,981.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Several research analysts recently issued reports on ABT shares. Citigroup reiterated a “buy” rating and issued a $125.00 target price (down from $138.00) on shares of Abbott Laboratories in a research report on Wednesday, June 2nd. Raymond James cut their price target on shares of Abbott Laboratories from $130.00 to $116.00 and set an “outperform” rating for the company in a research report on Wednesday, June 2nd. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Tuesday, April 20th. BTIG Research cut their price target on shares of Abbott Laboratories from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, June 2nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut their price target on shares of Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $122.00.

ABT stock opened at $110.15 on Friday. Abbott Laboratories has a 1 year low of $86.16 and a 1 year high of $128.54. The company has a market capitalization of $195.72 billion, a P/E ratio of 34.53, a P/E/G ratio of 1.92 and a beta of 0.69. The business has a 50-day moving average of $117.83. The company has a current ratio of 1.75, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. The company had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.72 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. Abbott Laboratories’s revenue was up 35.2% on a year-over-year basis. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.35 earnings per share for the current year.

About Abbott Laboratories

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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