Versant Capital Management Inc Increases Position in Abbott Laboratories (NYSE:ABT)

Versant Capital Management Inc raised its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 114.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,436 shares of the healthcare product maker's stock after purchasing an additional 3,438 shares during the period. Versant Capital Management Inc's holdings in Abbott Laboratories were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

ABT traded down $0.60 on Tuesday, hitting $132.97. 1,538,368 shares of the company's stock were exchanged, compared to its average volume of 6,133,399. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. 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 firm has a 50-day moving average price of $130.60 and a 200-day moving average price of $125.43. The stock has a market cap of $231.35 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its 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 company had revenue of $10.36 billion for the quarter, compared to analysts' expectations 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 anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Piper Sandler reaffirmed 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. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Raymond James lifted their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, 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. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target 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.