Lakeshore Capital Group Inc. Acquires Shares of 6,814 Abbott Laboratories (NYSE:ABT)

Lakeshore Capital Group Inc. acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,814 shares of the healthcare product maker's stock, valued at approximately $771,000.

Several other large investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter worth about $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC raised its holdings 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 bought a new position in Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 0.6%

Shares of NYSE ABT traded up $0.78 during midday trading on Thursday, hitting $132.80. 3,078,234 shares of the company's stock were exchanged, compared to its average volume of 6,123,673. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $231.04 billion, a PE ratio of 17.36, a P/E/G ratio of 2.52 and a beta of 0.74. The firm's fifty day simple moving average is $130.19 and its 200-day simple moving average is $124.95.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS 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 the consensus estimate of $10.38 billion. Research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Analysts Set New Price Targets

ABT has been the topic of a number of analyst reports. Morgan Stanley upped their price objective 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. Piper Sandler reiterated an "overweight" rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Wall Street Zen lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $142.59.

Insider Activity at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 949 shares of the 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 transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,278 shares of company stock valued at $12,745,859. Corporate insiders own 0.46% of the company's stock.

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.