Meeder Asset Management Inc. Sells 2,664 Shares of Abbott Laboratories (NYSE:ABT)

Meeder Asset Management Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 86.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 435 shares of the healthcare product maker’s stock after selling 2,664 shares during the quarter. Meeder Asset Management Inc.’s holdings in Abbott Laboratories were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ABT. Oppenheimer & Co. Inc. grew its position in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 100,109 shares of the healthcare product maker’s stock worth $10,402,000 after buying an additional 3,744 shares during the period. D Orazio & Associates Inc. grew its position in shares of Abbott Laboratories by 18.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 5,279 shares of the healthcare product maker’s stock worth $549,000 after buying an additional 809 shares during the period. Main Street Financial Solutions LLC grew its position in shares of Abbott Laboratories by 1.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 11,137 shares of the healthcare product maker’s stock worth $1,157,000 after buying an additional 135 shares during the period. Vest Financial LLC grew its position in shares of Abbott Laboratories by 21.4% during the 2nd quarter. Vest Financial LLC now owns 416,471 shares of the healthcare product maker’s stock worth $43,276,000 after buying an additional 73,551 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $103,801,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related 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 value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. Barclays increased 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 cut their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.80.

Abbott Laboratories Trading Down 0.4 %

Shares of Abbott Laboratories stock opened at $116.40 on Monday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm has a market cap of $202.49 billion, a PE ratio of 36.26, a P/E/G ratio of 2.90 and a beta of 0.72. The stock has a fifty day moving average price of $109.24 and a 200-day moving average price of $108.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its earnings results 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the firm posted $1.08 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

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.