Western Wealth Management LLC Sells 11,619 Shares of Abbott Laboratories (NYSE:ABT)

Western Wealth Management LLC trimmed its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 51.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,168 shares of the healthcare product maker's stock after selling 11,619 shares during the period. Western Wealth Management LLC's holdings in Abbott Laboratories were worth $1,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the 4th quarter worth $26,000. NewSquare Capital LLC grew its position 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 during the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 1.2%

Shares of NYSE:ABT traded up $1.63 during trading on Tuesday, hitting $132.93. 5,590,628 shares of the company's stock were exchanged, compared to its average volume of 6,140,447. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm has a 50-day moving average price of $129.95 and a two-hundred day moving average price of $124.84. 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 market cap of $231.28 billion, a P/E ratio of 17.38, a PEG ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during 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%. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABT. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Barclays raised their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a 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 stock a "buy" rating in a 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 stock an "overweight" rating in a report on Thursday, April 17th. Finally, Raymond James lifted their price target 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. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. The trade was a 55.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is currently owned by company insiders.

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.