Riverview Trust Co Sells 2,985 Shares of Abbott Laboratories (NYSE:ABT)

Riverview Trust Co decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,114 shares of the healthcare product maker's stock after selling 2,985 shares during the quarter. Abbott Laboratories makes up approximately 1.2% of Riverview Trust Co's portfolio, making the stock its 17th largest position. Riverview Trust Co's holdings in Abbott Laboratories were worth $1,209,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABT. Three Seasons Wealth LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $1,428,000. Voleon Capital Management LP purchased a new stake in Abbott Laboratories during the fourth quarter worth about $273,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after buying an additional 57,499 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares during the last quarter. Finally, DSM Capital Partners LLC increased its holdings in Abbott Laboratories by 75.6% during the fourth quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker's stock worth $97,207,000 after buying an additional 370,049 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Insider Buying and Selling

In other Abbott Laboratories news, 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 value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $133.69 on Friday. The firm has a market cap of $232.60 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock's fifty day moving average price is $130.71 and its 200-day moving average price is $125.66.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, 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 have weighed in on ABT. Barclays increased their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.59.

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.

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