Hsbc Holdings PLC Has $450.51 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Hsbc Holdings PLC raised its position in Abbott Laboratories (NYSE:ABT) by 12.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,328,995 shares of the healthcare product maker’s stock after acquiring an additional 469,149 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of Abbott Laboratories worth $450,511,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories during the second quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth approximately $30,000. Finally, True Wealth Design LLC boosted its position in shares of Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $25,617,068.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.4 %

ABT opened at $118.13 on Wednesday. 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 has a one year low of $89.67 and a one year high of $121.64. The firm has a market capitalization of $205.50 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a fifty day moving average price of $109.88 and a 200-day moving average price of $108.56.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABT. Royal Bank of Canada reiterated 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 cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Evercore ISI cut their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

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.