B. Riley Wealth Advisors Inc. Decreases Stock Position in Abbott Laboratories (NYSE:ABT)

B. Riley Wealth Advisors Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,572 shares of the healthcare product maker's stock after selling 7,741 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Abbott Laboratories were worth $4,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its holdings 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 purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.6%

ABT traded up $0.83 on Friday, hitting $133.68. The company had a trading volume of 14,235,633 shares, compared to its average volume of 6,157,731. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock has a fifty day simple moving average of $130.46 and a 200-day simple moving average of $125.24. The firm has a market capitalization of $232.58 billion, a P/E ratio of 17.47, 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 (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. As a group, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock valued at $12,745,859 over the last 90 days. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABT shares. Citigroup upped their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price objective 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 reissued an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Wall Street Zen cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average price target of $142.59.

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.