Abbott Laboratories (NYSE:ABT) Shares Bought by Iowa State Bank

Iowa State Bank raised its position in Abbott Laboratories (NYSE:ABT - Free Report) by 660.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,547 shares of the healthcare product maker's stock after purchasing an additional 12,635 shares during the quarter. Iowa State Bank's holdings in Abbott Laboratories were worth $1,930,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the 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 transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Jefferies Financial Group upped 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. Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" 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 research report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.72 during midday trading on Wednesday, reaching $132.99. 4,052,846 shares of the stock were exchanged, compared to its average volume of 6,960,232. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $130.64 and a two-hundred day simple moving average of $125.49. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market cap of $231.38 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.52 and a beta of 0.74.

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, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. As a group, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Company 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.