Baker Ellis Asset Management LLC Grows Stock Position in Abbott Laboratories (NYSE:ABT)

Baker Ellis Asset Management LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 11.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,596 shares of the healthcare product maker’s stock after buying an additional 268 shares during the period. Baker Ellis Asset Management LLC’s holdings in Abbott Laboratories were worth $344,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Magnolia Private Wealth LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth about $260,000. Capital Advisory Group Advisory Services LLC increased its holdings in Abbott Laboratories by 2.3% during the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 4,237 shares of the healthcare product maker’s stock valued at $562,000 after purchasing an additional 95 shares during the period. McKinley Carter Wealth Services Inc. increased its holdings in Abbott Laboratories by 17.6% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 5,970 shares of the healthcare product maker’s stock valued at $792,000 after purchasing an additional 893 shares during the period. Trinity Financial Advisors LLC increased its holdings in Abbott Laboratories by 22.3% during the 1st quarter. Trinity Financial Advisors LLC now owns 3,211 shares of the healthcare product maker’s stock valued at $426,000 after purchasing an additional 586 shares during the period. Finally, Focus Financial Network Inc. increased its holdings in Abbott Laboratories by 0.3% during the 1st quarter. Focus Financial Network Inc. now owns 36,397 shares of the healthcare product maker’s stock valued at $4,828,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Raymond James boosted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Barclays lifted their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Stock Performance

Shares of ABT opened at $134.88 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $131.03 and its 200-day moving average price is $126.12. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $234.67 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for 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%. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the 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 transaction, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently 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.