Teamwork Financial Advisors LLC Acquires Shares of 25,740 Abbott Laboratories (NYSE:ABT)

Teamwork Financial Advisors LLC bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,740 shares of the healthcare product maker's stock, valued at approximately $3,414,000.

Several other institutional investors also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC raised its stake in 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 acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 0.5%

NYSE ABT traded up $0.73 during trading on Thursday, hitting $133.69. 5,576,936 shares of the company traded hands, compared to its average volume of 6,153,383. The company has a market capitalization of $232.60 billion, a P/E ratio of 17.48, 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. The business has a fifty day simple moving average of $130.69 and a 200 day simple moving average of $125.54. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) 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 company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Insider Activity at Abbott Laboratories

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

ABT has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Wells Fargo & Company lifted their price target on 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 reaffirmed an "overweight" rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. 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. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average target price of $142.59.

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.