SFE Investment Counsel Has $6.58 Million Holdings in Abbott Laboratories (NYSE:ABT)

SFE Investment Counsel grew its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,765 shares of the healthcare product maker’s stock after buying an additional 874 shares during the quarter. Abbott Laboratories accounts for about 1.8% of SFE Investment Counsel’s investment portfolio, making the stock its 16th biggest holding. SFE Investment Counsel’s holdings in Abbott Laboratories were worth $6,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC boosted its holdings in shares of Abbott Laboratories by 5.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 17,658 shares of the healthcare product maker’s stock valued at $2,047,000 after buying an additional 888 shares during the period. Isthmus Partners LLC acquired a new position in Abbott Laboratories during the second quarter worth $36,000. Wealthquest Corp boosted its holdings in Abbott Laboratories by 16.3% during the second quarter. Wealthquest Corp now owns 12,380 shares of the healthcare product maker’s stock worth $1,435,000 after purchasing an additional 1,734 shares during the last quarter. Midwest Professional Planners LTD. boosted its holdings in Abbott Laboratories by 13.7% during the second quarter. Midwest Professional Planners LTD. now owns 9,842 shares of the healthcare product maker’s stock worth $1,141,000 after purchasing an additional 1,185 shares during the last quarter. Finally, One Charles Private Wealth Services LLC boosted its holdings in Abbott Laboratories by 104.9% during the second quarter. One Charles Private Wealth Services LLC now owns 3,820 shares of the healthcare product maker’s stock worth $443,000 after purchasing an additional 1,956 shares during the last quarter. Institutional investors own 72.05% of the company’s stock.

Shares of NYSE:ABT traded up $0.75 during trading on Wednesday, reaching $127.80. 84,302 shares of the stock were exchanged, compared to its average volume of 5,376,956. Abbott Laboratories has a 12 month low of $100.34 and a 12 month high of $129.70. The firm has a market cap of $226.57 billion, a PE ratio of 35.79, a PEG ratio of 2.45 and a beta of 0.66. The stock has a 50-day moving average price of $123.08 and a 200-day moving average price of $119.30. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $9.67 billion. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. On average, sell-side analysts expect that Abbott Laboratories will post 4.42 earnings per share for the current fiscal year.

In related news, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $129.05, for a total value of $2,969,182.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 14,500 shares of the stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $125.00, for a total value of $1,812,500.00. Following the completion of the sale, the executive vice president now owns 54,282 shares of the company’s stock, valued at $6,785,250. The disclosure for this sale can be found here. Insiders have sold 222,883 shares of company stock valued at $27,964,400 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

ABT has been the subject of several recent research reports. BTIG Research increased their target price on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Morgan Stanley increased their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, July 23rd. Zacks Investment Research upgraded shares of Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target for the company in a research note on Tuesday, August 3rd. Citigroup reiterated a “buy” rating and issued a $125.00 price target (down previously from $138.00) on shares of Abbott Laboratories in a research note on Wednesday, June 2nd. Finally, 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 note on Wednesday, June 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $128.93.

Abbott Laboratories Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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