Stevens Capital Management LP Purchases New Holdings in Abbott Laboratories (ABT)

Stevens Capital Management LP purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 418,033 shares of the healthcare product maker’s stock, valued at approximately $25,049,000. Abbott Laboratories accounts for 0.9% of Stevens Capital Management LP’s investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFG Advisory LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new position in Abbott Laboratories during the 4th quarter valued at about $102,000. Icon Wealth Partners LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $102,000. SWS Partners purchased a new position in Abbott Laboratories during the 4th quarter valued at about $104,000. Finally, Cerebellum GP LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $133,000. Institutional investors and hedge funds own 71.71% of the company’s stock.

ABT stock opened at $61.71 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $107.05 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 1.75 and a beta of 1.50. Abbott Laboratories has a 1 year low of $43.01 and a 1 year high of $64.60.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Abbott Laboratories had a return on equity of 14.54% and a net margin of 1.67%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the company earned $0.48 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. equities analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

In other news, insider Jaime Contreras sold 849 shares of the firm’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $59.36, for a total transaction of $50,396.64. Following the sale, the insider now owns 50,436 shares of the company’s stock, valued at approximately $2,993,880.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen R. Fussell sold 56,401 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total value of $3,362,063.61. Following the sale, the insider now directly owns 184,884 shares in the company, valued at approximately $11,020,935.24. The disclosure for this sale can be found here. Insiders have sold a total of 86,214 shares of company stock worth $5,173,042 in the last three months. Corporate insiders own 0.74% of the company’s stock.

A number of brokerages recently commented on ABT. Citigroup lowered their target price on Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 24th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a report on Sunday, April 22nd. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Friday, April 20th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Argus increased their price target on Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.35.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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