Abbott Laboratories (NYSE:ABT) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lessened its position in Abbott Laboratories (NYSE:ABT - Free Report) by 8.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 81,901 shares of the healthcare product maker's stock after selling 7,410 shares during the period. Parsons Capital Management Inc. RI's holdings in Abbott Laboratories were worth $10,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Tallon Kerry Patrick purchased a new stake in Abbott Laboratories during the fourth quarter worth about $200,000. LaFleur & Godfrey LLC boosted its stake in shares of Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock worth $9,325,000 after acquiring an additional 15,692 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after acquiring an additional 4,755 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Abbott Laboratories during the fourth quarter worth $29,120,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth $316,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.5%

Shares of NYSE:ABT traded up $0.64 during midday trading on Tuesday, reaching $134.04. The company had a trading volume of 3,579,267 shares, compared to its average volume of 6,122,605. Abbott Laboratories has a one year low of $99.71 and a one year 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 stock has a market capitalization of $233.21 billion, a P/E ratio of 17.52, a PEG ratio of 2.52 and a beta of 0.73. The stock's fifty day moving average price is $130.77 and its 200-day moving average price is $126.01.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on ABT. Wall Street Zen cut shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Wells Fargo & Company lifted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Four 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. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the company'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 sale, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.