Hall Capital Management Co. Inc. Invests $3.06 Million in Abbott Laboratories (NYSE:ABT)

Hall Capital Management Co. Inc. acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,018 shares of the healthcare product maker's stock, valued at approximately $3,056,000. Abbott Laboratories accounts for 1.4% of Hall Capital Management Co. Inc.'s investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Norges Bank bought a new stake in Abbott Laboratories during the fourth quarter worth about $2,373,461,000. T. Rowe Price Investment Management Inc. lifted its position in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock worth $945,453,000 after purchasing an additional 6,628,310 shares during the period. Raymond James Financial Inc. bought a new stake in Abbott Laboratories during the fourth quarter worth about $635,056,000. Capital International Investors raised its stake in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after acquiring an additional 2,060,650 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Down 0.7%

Shares of ABT stock traded down $0.88 during trading hours on Wednesday, hitting $132.06. 3,615,619 shares of the company were exchanged, compared to its average volume of 6,135,854. The firm has a market cap of $229.76 billion, a P/E ratio of 17.26, 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 company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a 50 day simple moving average of $130.07 and a two-hundred day simple moving average of $124.90.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company 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%. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research analyst reports. Morgan Stanley boosted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. Wells Fargo & Company boosted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Raymond James upped their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group upped 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 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Transactions at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock valued at $12,745,859 in the last quarter. 0.46% of the stock is currently owned by company insiders.

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.