Inspirion Wealth Advisors LLC Has $24.64 Million Holdings in Abbott Laboratories (NYSE:ABT)

Inspirion Wealth Advisors LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,774 shares of the healthcare product maker's stock after selling 2,224 shares during the quarter. Abbott Laboratories makes up about 3.4% of Inspirion Wealth Advisors LLC's holdings, making the stock its 11th largest holding. Inspirion Wealth Advisors LLC's holdings in Abbott Laboratories were worth $24,643,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Abbott Laboratories by 383.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after buying an additional 6,628,310 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Abbott Laboratories in the fourth quarter worth $635,056,000. GAMMA Investing LLC raised its stake in shares of Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after buying an additional 5,069,771 shares during the last quarter. Finally, Capital International Investors raised its holdings in Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT traded down $0.72 during trading hours on Wednesday, reaching $132.99. 3,973,909 shares of the company traded hands, compared to its average volume of 6,146,580. The stock's fifty day moving average is $130.64 and its 200 day moving average is $125.49. 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 stock has a market cap of $231.38 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 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (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 company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were 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 directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sally E. Blount sold 2,600 shares of the business'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 directly owns 34,058 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective 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. Citigroup lifted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Four 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. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $142.59.

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.