Westbourne Investment Advisors Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,030 shares of the healthcare product maker’s stock after selling 300 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $445,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Patten Group Inc. increased its position in shares of Abbott Laboratories by 66.0% in the third quarter. Patten Group Inc. now owns 2,516 shares of the healthcare product maker’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. Cypress Capital Management LLC WY increased its position in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Abbott Laboratories during the first quarter valued at about $112,000. Advantage Investment Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $120,000. Finally, First Command Financial Services Inc. increased its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares in the last quarter. Institutional investors own 62.20% of the company’s stock.

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

Shares of Abbott Laboratories (NYSE ABT) opened at 46.62 on Tuesday. The stock’s 50 day moving average is $44.14 and its 200 day moving average is $42.51. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $46.75. The stock has a market capitalization of $80.90 billion, a PE ratio of 48.51 and a beta of 0.97.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Analysts anticipate that Abbott Laboratories will post $2.47 EPS for the current fiscal year.

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Several research analysts recently issued reports on ABT shares. Jefferies Group LLC restated a “buy” rating and set a $51.00 price objective on shares of Abbott Laboratories in a research report on Friday, February 17th. Royal Bank of Canada lifted their price objective on Abbott Laboratories from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Wednesday, March 8th. BMO Capital Markets downgraded Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, March 14th. Finally, Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.00.

In other Abbott Laboratories news, insider Roger Bird sold 5,600 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $43.82, for a total value of $245,392.00. Following the completion of the sale, the insider now owns 51,313 shares in the company, valued at approximately $2,248,535.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph J. Manning sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total transaction of $184,590.00. Following the completion of the sale, the insider now owns 26,224 shares of the company’s stock, valued at approximately $1,152,544.80. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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