Strive Asset Management LLC Buys Shares of 6,286 Abbott Laboratories (NYSE:ABT)

Strive Asset Management LLC bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,286 shares of the healthcare product maker's stock, valued at approximately $711,000.

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

Analysts Set New Price Targets

A number of research firms have issued reports on ABT. Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Wall Street Zen cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley upped their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Finally, Piper Sandler reissued an "overweight" rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Price Performance

ABT traded down $0.36 during midday trading on Friday, hitting $131.14. 2,258,838 shares of the company traded hands, compared to its average volume of 6,119,664. The business has a 50 day simple moving average of $129.77 and a two-hundred day simple moving average of $124.52. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a market capitalization of $228.16 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.52 and a beta of 0.74. 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 (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, 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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Andrea F. Wainer sold 949 shares of the company's 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 completion of the sale, the executive vice president now owns 74,381 shares of the company's stock, valued at $10,277,222.77. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is owned by corporate insiders.

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.