Allied Investment Advisors LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Allied Investment Advisors LLC grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,070 shares of the healthcare product maker's stock after purchasing an additional 3,489 shares during the quarter. Abbott Laboratories makes up about 2.3% of Allied Investment Advisors LLC's investment portfolio, making the stock its 16th largest holding. Allied Investment Advisors LLC's holdings in Abbott Laboratories were worth $11,948,000 at the end of the most recent reporting period.

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

Abbott Laboratories Trading Up 0.1%

Shares of ABT stock traded up $0.17 on Tuesday, reaching $133.74. 5,914,174 shares of the company's stock were exchanged, compared to its average volume of 6,150,016. The company's fifty day simple moving average is $130.60 and its 200 day simple moving average is $125.43. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $232.69 billion, a PE ratio of 17.48, a P/E/G ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates 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 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ABT. Raymond James increased their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Wall Street Zen downgraded Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 17th. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Barclays boosted their target price 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. 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.59.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company's stock, valued at $9,625,404.96. The trade was a 55.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.46% of the company's stock.

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.