Elo Mutual Pension Insurance Co Sells 2,574 Shares of Abbott Laboratories (NYSE:ABT)

Elo Mutual Pension Insurance Co lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,053 shares of the healthcare product maker’s stock after selling 2,574 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Abbott Laboratories were worth $16,215,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Finally, True Wealth Design LLC increased its stake in shares of Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ABT. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Finally, Barclays increased their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $118.13 on Wednesday. The company has a market capitalization of $205.50 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company’s 50 day simple moving average is $109.88 and its 200-day simple moving average is $108.56. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share 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.