Abbott Laboratories (NYSE:ABT) Position Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15,420.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,102,648 shares of the healthcare product maker's stock after acquiring an additional 5,069,771 shares during the period. GAMMA Investing LLC owned 0.29% of Abbott Laboratories worth $676,866,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Tallon Kerry Patrick acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $200,000. Capital & Planning LLC increased its position in Abbott Laboratories by 1.2% during the 4th quarter. Capital & Planning LLC now owns 8,673 shares of the healthcare product maker's stock worth $981,000 after purchasing an additional 100 shares in the last quarter. LaFleur & Godfrey LLC increased its position in Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock worth $9,325,000 after purchasing an additional 15,692 shares in the last quarter. Brighton Jones LLC increased its position in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $29,120,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $0.16 during mid-day trading on Monday, reaching $133.42. The company's stock had a trading volume of 1,921,139 shares, compared to its average volume of 6,141,128. The firm has a market cap of $232.13 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.52 and a beta of 0.74. The business has a 50 day moving average price of $130.46 and a 200-day moving average price of $125.31. 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 has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Wall Street Zen downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $142.59.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's 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 sale, the director now directly owns 34,058 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares in the company, valued at $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. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories 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.