Excalibur Management Corp Buys 165 Shares of Abbott Laboratories (NYSE:ABT)

Excalibur Management Corp increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,927 shares of the healthcare product maker’s stock after acquiring an additional 165 shares during the quarter. Excalibur Management Corp’s holdings in Abbott Laboratories were worth $1,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Finally, True Wealth Design LLC boosted its stake in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $117.63 on Tuesday. The company has a market capitalization of $204.63 billion, a PE ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $109.55 and its 200 day simple moving average is $108.57.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm 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 company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. On average, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays increased their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup increased their price objective 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. Finally, Evercore ISI decreased their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.80.

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.