Abbott Laboratories (NYSE:ABT) Shares Bought by UMB Bank n.a.

UMB Bank n.a. grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,903 shares of the healthcare product maker's stock after acquiring an additional 51,511 shares during the period. UMB Bank n.a.'s holdings in Abbott Laboratories were worth $40,843,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABT. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $26,000. NewSquare Capital LLC raised its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Barclays lifted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Price Performance

ABT opened at $133.61 on Friday. The company has a 50 day moving average of $130.74 and a two-hundred day moving average of $125.84. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $232.45 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.52 and a beta of 0.73.

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

About Abbott Laboratories

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.

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