Focus Partners Advisor Solutions LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,407 shares of the healthcare product maker's stock after selling 4,649 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Abbott Laboratories were worth $2,308,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in Abbott Laboratories in the 4th quarter valued at about $200,000. Capital & Planning LLC raised its position in shares of Abbott Laboratories by 1.2% in the fourth quarter. Capital & Planning LLC now owns 8,673 shares of the healthcare product maker's stock valued at $981,000 after purchasing an additional 100 shares during the period. LaFleur & Godfrey LLC lifted its stake in shares of Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock valued at $9,325,000 after buying an additional 15,692 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in Abbott Laboratories by 11.3% in the 4th quarter. Pure Financial Advisors LLC now owns 6,979 shares of the healthcare product maker's stock worth $789,000 after buying an additional 711 shares during the period. Finally, Verum Partners LLC grew its stake in Abbott Laboratories by 10.1% in the 4th quarter. Verum Partners LLC now owns 2,155 shares of the healthcare product maker's stock valued at $244,000 after buying an additional 198 shares in the last quarter. Institutional investors own 75.18% of the company's stock.
Insider Activity at Abbott Laboratories
In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction that occurred 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 owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. The trade was a 55.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,278 shares of company stock valued at $12,745,859. Corporate insiders own 0.46% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on ABT shares. Jefferies Financial Group increased their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Raymond James upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. 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. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $142.59.
Check Out Our Latest Stock Report on ABT
Abbott Laboratories Price Performance
Shares of NYSE:ABT traded up $1.65 during trading on Tuesday, reaching $132.95. The company had a trading volume of 1,822,010 shares, compared to its average volume of 6,125,621. The company has a fifty day moving average of $129.95 and a two-hundred day moving average of $124.84. 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 $231.31 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results 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 analysts' expectations of $10.38 billion. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.
Abbott Laboratories Company Profile
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Free Report)
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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