Thurston Springer Miller Herd & Titak Inc. Has $4.31 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Thurston Springer Miller Herd & Titak Inc. grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 71.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,489 shares of the healthcare product maker's stock after purchasing an additional 13,510 shares during the period. Abbott Laboratories comprises approximately 0.7% of Thurston Springer Miller Herd & Titak Inc.'s holdings, making the stock its 26th biggest holding. Thurston Springer Miller Herd & Titak Inc.'s holdings in Abbott Laboratories were worth $4,310,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. NewSquare Capital LLC lifted its position in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $29,000. Institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Wells Fargo & Company boosted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Raymond James raised their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Abbott Laboratories Trading Down 0.2%

Shares of ABT stock traded down $0.33 on Friday, hitting $133.61. The stock had a trading volume of 3,866,397 shares, compared to its average volume of 6,155,649. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a fifty day moving average price of $130.71 and a two-hundred day moving average price of $125.66. The firm has a market cap of $232.45 billion, a P/E ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Company 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.