Abbott Laboratories (ABT) Holder Old West Investment Management LLC Lowered Its Stake by $3.36 Million

January 21, 2018 - By Richard Conner

Investors sentiment decreased to 0.87 in Q3 2017. Its down 0.01, from 0.88 in 2017Q2. It worsened, as 47 investors sold ABT shares while 563 reduced holdings. 111 funds opened positions while 421 raised stakes. 1.21 billion shares or 0.79% less from 1.22 billion shares in 2017Q2 were reported. Cullen Frost Bankers stated it has 0.09% in Abbott Laboratories (NYSE:ABT). Rockefeller Services reported 2.22% of its portfolio in Abbott Laboratories (NYSE:ABT). Villere St Denis J And Com Ltd reported 0.82% stake. Wellington Shields Ltd Limited Liability Company reported 30,018 shares stake. Louisiana State Employees Retirement System reported 108,500 shares stake. Rockland Tru Com stated it has 79,256 shares or 0.63% of all its holdings. Banque Pictet And Cie Sa accumulated 403,734 shares or 0.49% of the stock. Asset Mngmt has invested 0.19% in Abbott Laboratories (NYSE:ABT). Baystate Wealth Ltd Limited Liability Company reported 0.04% of its portfolio in Abbott Laboratories (NYSE:ABT). Willingdon Wealth has 4,332 shares for 0.08% of their portfolio. Northstar Group invested in 0.3% or 9,595 shares. Nomura Asset Management Limited holds 479,784 shares. Drexel Morgan Company has 1.48% invested in Abbott Laboratories (NYSE:ABT). Marco Inv Lc owns 125,297 shares for 1.05% of their portfolio. Court Place Advisors Limited Liability Company reported 0.28% stake.

Since August 1, 2017, it had 0 insider purchases, and 6 sales for $22.86 million activity. Salvadori Daniel Gesua Sive sold 96,603 shares worth $5.43M. Shares for $2.74 million were sold by Contreras Jaime. Bracken Sharon J also sold $98,323 worth of Abbott Laboratories (NYSE:ABT) shares.

Old West Investment Management Llc decreased its stake in Abbott Laboratories (ABT) by 24.12% based on its latest 2017Q3 regulatory filing with the SEC. Old West Investment Management Llc sold 63,331 shares as the company’s stock declined 3.42% while stock markets rallied. The hedge fund held 199,223 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $10.63 million, down from 262,554 at the end of the previous reported quarter. Old West Investment Management Llc who had been investing in Abbott Laboratories for a number of months, seems to be less bullish one the $103.24 billion market cap company. The stock increased 0.41% or $0.24 during the last trading session, reaching $59.31. About 7.36 million shares traded or 23.68% up from the average. Abbott Laboratories (NYSE:ABT) has risen 15.90% since January 21, 2017 and is uptrending. It has underperformed by 0.80% the S&P500.

Analysts await Abbott Laboratories (NYSE:ABT) to report earnings on January, 24 before the open. They expect $0.73 EPS, up 12.31 % or $0.08 from last year’s $0.65 per share. ABT’s profit will be $1.27B for 20.31 P/E if the $0.73 EPS becomes a reality. After $0.66 actual EPS reported by Abbott Laboratories for the previous quarter, Wall Street now forecasts 10.61 % EPS growth.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Cnbc.com which released: “Abbott shares gain after JP Morgan upgrades them to overweight” on January 02, 2018, also Chicagotribune.com with their article: “Selle: With opioid suit, Nerheim takes jab at Abbott Labs” published on December 25, 2017, Benzinga.com published: “Abbott Labs Has ‘An Emerging Picture Of Top-Tier Growth,’ Says Morgan Stanley” on January 02, 2018. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Cnbc.com and their article: “Medicare to cover new glucose monitor, giving Abbott an edge over rival Dexcom” published on January 04, 2018 as well as Seekingalpha.com‘s news article titled: “Abbott Laboratories’ (ABT) Management Presents at 36th Annual JPMorgan …” with publication date: January 09, 2018.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Among 25 analysts covering Abbott Laboratories (NYSE:ABT), 18 have Buy rating, 0 Sell and 7 Hold. Therefore 72% are positive. Abbott Laboratories has $90 highest and $4 lowest target. $51.95’s average target is -12.41% below currents $59.31 stock price. Abbott Laboratories had 92 analyst reports since July 24, 2015 according to SRatingsIntel. On Thursday, October 19 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm has “Buy” rating by Stifel Nicolaus given on Friday, September 22. BMO Capital Markets maintained Abbott Laboratories (NYSE:ABT) rating on Thursday, October 19. BMO Capital Markets has “Market Perform” rating and $5 target. RBC Capital Markets maintained the stock with “Buy” rating in Monday, June 26 report. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Monday, January 4 report. Jefferies maintained the stock with “Buy” rating in Tuesday, March 15 report. RBC Capital Markets maintained the shares of ABT in report on Thursday, July 23 with “Outperform” rating. The stock of Abbott Laboratories (NYSE:ABT) earned “Overweight” rating by Barclays Capital on Thursday, October 19. The firm earned “Outperform” rating on Wednesday, March 1 by RBC Capital Markets. The company was maintained on Thursday, January 26 by RBC Capital Markets.

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