Abner Herrman & Brock LLC Makes New $18.23 Million Investment in Abbott Laboratories (NYSE:ABT)

Abner Herrman & Brock LLC acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 137,395 shares of the healthcare product maker's stock, valued at approximately $18,225,000. Abbott Laboratories accounts for approximately 2.3% of Abner Herrman & Brock LLC's investment portfolio, making the stock its 20th biggest holding.

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

Abbott Laboratories Trading Up 0.1%

Shares of NYSE:ABT traded up $0.17 during trading on Thursday, hitting $133.13. 2,340,984 shares of the company's stock were exchanged, compared to its average volume of 6,140,797. The firm has a 50-day moving average price of $130.69 and a two-hundred day moving average price of $125.54. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm has a market cap of $231.63 billion, a P/E ratio of 17.40, a PEG ratio of 2.52 and a beta of 0.74. 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 (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABT. Citigroup boosted 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. Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Raymond James lifted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.59.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm'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 owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

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.