Quantbot Technologies LP Has $16.34 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Quantbot Technologies LP increased its stake in Abbott Laboratories (NYSE:ABT) by 652.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,202 shares of the healthcare product maker’s stock after purchasing an additional 136,308 shares during the quarter. Abbott Laboratories comprises about 0.8% of Quantbot Technologies LP’s portfolio, making the stock its 4th biggest holding. Quantbot Technologies LP’s holdings in Abbott Laboratories were worth $16,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Vanguard Group Inc. raised its stake in shares of Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after buying an additional 701,740 shares in the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in Abbott Laboratories in the fourth quarter worth about $16,764,000. Garde Capital Inc. lifted its holdings in Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after acquiring an additional 262 shares during the last quarter. Sectoral Asset Management Inc. boosted its position in shares of Abbott Laboratories by 31.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock valued at $7,595,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Abbott Laboratories by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock worth $98,490,000 after purchasing an additional 8,224 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT opened at $116.40 on Monday. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. 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 has a market capitalization of $202.49 billion, a PE ratio of 36.26, a PEG ratio of 2.90 and a beta of 0.72. The company’s 50 day moving average price is $109.24 and its 200 day moving average price is $108.57.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. Research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABT. Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Evercore ISI reduced their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Company 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.