Glen Eagle Advisors LLC Has $620,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Glen Eagle Advisors LLC increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 62.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,486 shares of the healthcare product maker's stock after buying an additional 2,111 shares during the period. Glen Eagle Advisors LLC's holdings in Abbott Laboratories were worth $620,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ABT shares. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Morgan Stanley increased their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, April 17th. Argus raised Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Thursday, April 17th. Four equities 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Trading Down 0.1%

NYSE:ABT traded down $0.19 during mid-day trading on Monday, hitting $131.31. The company had a trading volume of 6,144,711 shares, compared to its average volume of 6,142,655. The firm has a market cap of $228.46 billion, a P/E ratio of 17.16, a P/E/G ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The business's fifty day moving average is $129.87 and its two-hundred day moving average is $124.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping 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 business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Activity at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction dated 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 transaction, 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 position. The transaction 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 firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock worth $12,745,859 in the last quarter. Corporate 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.