Simplicity Wealth LLC Purchases 9,506 Shares of Abbott Laboratories (NYSE:ABT)

Simplicity Wealth LLC boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 115.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,758 shares of the healthcare product maker's stock after acquiring an additional 9,506 shares during the period. Simplicity Wealth LLC's holdings in Abbott Laboratories were worth $2,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC grew its stake in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT stock traded up $1.05 during mid-day trading on Thursday, reaching $136.33. 5,082,366 shares of the stock traded hands, compared to its average volume of 6,101,217. 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 business has a 50-day moving average of $131.26 and a two-hundred day moving average of $126.25. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a market capitalization of $237.19 billion, a PE ratio of 17.82, a P/E/G ratio of 2.52 and a beta of 0.73.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ABT shares. 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. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Barclays lifted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, Piper Sandler restated an "overweight" rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Four research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction 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 sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company's stock.

About Abbott Laboratories

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.