Redhawk Wealth Advisors Inc. Invests $297,000 in Abbott Laboratories (NYSE:ABT)

Redhawk Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,236 shares of the healthcare product maker's stock, valued at approximately $297,000.

Other large investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $26,000. NewSquare Capital LLC raised its stake in shares of 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 last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABT. Piper Sandler restated an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Stifel Nicolaus upped their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. The Goldman Sachs Group upped 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. Finally, Bank of America lifted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Trading Up 0.8%

Shares of NYSE ABT traded up $1.05 during midday trading on Thursday, hitting $136.33. The company's stock had a trading volume of 5,082,366 shares, compared to its average volume of 6,101,217. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The business's 50 day moving average is $131.03 and its two-hundred day moving average is $126.12. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The firm has a market cap of $237.19 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

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.