Abbott Laboratories (NYSE:ABT) Shares Sold by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,185 shares of the healthcare product maker's stock after selling 2,175 shares during the quarter. Cranbrook Wealth Management LLC's holdings in Abbott Laboratories were worth $1,484,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth about $26,000. NewSquare Capital LLC lifted 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 buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC purchased a new position in Abbott Laboratories during the fourth quarter worth about $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

ABT traded up $0.64 during trading on Tuesday, reaching $134.04. 3,579,267 shares of the stock were exchanged, compared to its average volume of 6,112,870. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a market capitalization of $233.21 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.52 and a beta of 0.73. The business's 50 day moving average price is $130.82 and its two-hundred day moving average price is $126.06. 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 (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts' consensus estimates 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. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Citigroup increased their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Morgan Stanley increased their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, April 17th. Four research 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's stock. According to data from MarketBeat, the stock currently 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.