Abbott Laboratories (NYSE:ABT) Shares Acquired by Somerset Trust Co

Somerset Trust Co lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 4.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,078 shares of the healthcare product maker’s stock after buying an additional 1,947 shares during the quarter. Abbott Laboratories makes up about 2.1% of Somerset Trust Co’s holdings, making the stock its 12th largest position. Somerset Trust Co’s holdings in Abbott Laboratories were worth $5,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new position in Abbott Laboratories in the 4th quarter valued at about $200,000. Capital & Planning LLC grew its holdings in Abbott Laboratories by 1.2% in the 4th quarter. Capital & Planning LLC now owns 8,673 shares of the healthcare product maker’s stock valued at $981,000 after buying an additional 100 shares during the period. LaFleur & Godfrey LLC grew its holdings in shares of Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock worth $9,325,000 after purchasing an additional 15,692 shares during the period. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,120,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $133.68 on Friday. The stock has a market cap of $232.58 billion, a P/E ratio of 17.47, 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. The stock has a 50 day moving average of $130.46 and a 200-day moving average of $125.17. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Bank of America upped their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada upped 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. Finally, Barclays upped their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This represents a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,278 shares of company stock valued at $12,745,859. Corporate insiders own 0.46% of the company’s stock.

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.