Abbott Labs (NYSE:ABT) Reports Increase in Sellers; Strong Momentum for Short Players

June 20, 2017 - By Henry Gaston

 Abbott Labs (NYSE:ABT) Reports Increase in Sellers; Strong Momentum for Short Players

Investors sentiment increased to 1.01 in 2016 Q4. Its up 0.05, from 0.96 in 2016Q3. It is positive, as 83 investors sold Abbott Laboratories shares while 496 reduced holdings. 103 funds opened positions while 481 raised stakes. 1.06 billion shares or 1.63% more from 1.04 billion shares in 2016Q3 were reported.
Sei Investments accumulated 0.1% or 528,282 shares. Profund Limited Liability Company invested in 0.1% or 55,341 shares. Campbell Newman Asset, a Wisconsin-based fund reported 9,883 shares. Tarbox Group accumulated 53,520 shares. Aqr Mgmt Limited Liability holds 0.01% of its portfolio in Abbott Laboratories (NYSE:ABT) for 173,914 shares. Gillespie Robinson And Grimm invested in 8,624 shares or 0.05% of the stock. Pension Service holds 0.27% of its portfolio in Abbott Laboratories (NYSE:ABT) for 1.01 million shares. Ifrah Services Inc reported 20,000 shares or 0.31% of all its holdings. Deutsche Bank Ag stated it has 4.46 million shares. Monetary Group Inc, a Missouri-based fund reported 22,175 shares. Fincl Advisers Ltd Llc has invested 0.19% of its portfolio in Abbott Laboratories (NYSE:ABT). National Planning Corp owns 20,929 shares. Oakworth Capital has invested 0.21% in Abbott Laboratories (NYSE:ABT). Marble Harbor Counsel Lc accumulated 253,925 shares or 2.25% of the stock. 1.32M are held by Jennison Associates Ltd Limited Liability Company.

Since January 31, 2017, it had 1 buying transaction, and 20 insider sales for $8.46 million activity. ALLEN HUBERT L sold $38,569 worth of stock or 857 shares. On Friday, February 17 the insider CAPEK JOHN M sold $4.20 million. On Tuesday, January 31 the insider Mason Heather L sold $1.46M. Contreras Jaime had sold 13,155 shares worth $592,157. MANNING JOSEPH J also sold $6,567 worth of Abbott Laboratories (NYSE:ABT) shares. Salvadori Daniel Gesua Sive sold $93,776 worth of Abbott Laboratories (NYSE:ABT) on Tuesday, February 28. On Tuesday, February 28 the insider Watkin Jared sold $44,028.

The stock of Abbott Labs (NYSE:ABT) registered an increase of 19.62% in short interest. ABT’s total short interest was 18.07M shares in June as published by FINRA. Its up 19.62% from 15.10M shares, reported previously. With 5.63M shares average volume, it will take short sellers 3 days to cover their ABT’s short positions. The short interest to Abbott Labs’s float is 1.05%.

The stock increased 0.02% or $0.01 on June 19, reaching $48.89. About 200 shares traded. Abbott Laboratories (NYSE:ABT) has risen 15.90% since June 20, 2016 and is uptrending. It has underperformed by 0.80% the S&P500.

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The company has market cap of $86.03 billion. The Firm operates through four divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. It has a 54.28 P/E ratio. The Company’s Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Among 17 analysts covering Abbott Laboratories (NYSE:ABT), 9 have Buy rating, 0 Sell and 8 Hold. Therefore 53% are positive. Abbott Laboratories has $90 highest and $9 lowest target. $50.58’s average target is 3.46% above currents $48.89 stock price. Abbott Laboratories had 51 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was upgraded by Barclays Capital to “Overweight” on Wednesday, October 7. The company was maintained on Monday, April 17 by Cowen & Co. The company was downgraded on Friday, January 29 by William Blair. The stock has “Outperform” rating by RBC Capital Markets on Thursday, January 26. The firm has “Buy” rating given on Thursday, August 4 by Jefferies. As per Monday, December 7, the company rating was upgraded by Jefferies. BTIG Research maintained Abbott Laboratories (NYSE:ABT) on Saturday, August 29 with “Buy” rating. Jefferies maintained Abbott Laboratories (NYSE:ABT) rating on Tuesday, March 15. Jefferies has “Buy” rating and $47 target. The firm has “Buy” rating given on Friday, June 16 by Jefferies. The firm has “Neutral” rating given on Thursday, April 28 by Piper Jaffray.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Nasdaq.com which released: “Adage Capital Partners Gp Llc Buys Deere, Puma Biotechnology Inc, Abbott …” on June 05, 2017, also Finance.Yahoo.com with their article: “Abbott Laboratories at 52-Week High on Product Line, Buyouts” published on June 05, 2017, Finance.Yahoo.com published: “Abbott Laboratories Up on EPD & Buyouts, Pediatric Weak” on June 15, 2017. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Realmoney.Thestreet.com and their article: “Abbott Laboratories Saw a Recent Breakout” published on June 12, 2017 as well as Seekingalpha.com‘s news article titled: “Abbott Hangs On For New HeartMate Model Amid Recall” with publication date: May 31, 2017.

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