Western Wealth Management LLC Cuts Position in Abbott Laboratories (NYSE:ABT)

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

Several other large investors have also made changes to their positions in ABT. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after acquiring an additional 739,260 shares during the period. Capital International Investors raised its holdings in Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. Capital Research Global Investors increased its position in shares of Abbott Laboratories by 1.5% in the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after buying an additional 795,073 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after buying an additional 765,636 shares during the period. Finally, Wellington Management Group LLP grew its stake in Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock valued at $2,985,233,000 after acquiring an additional 581,325 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.1%

NYSE ABT traded down $0.16 during trading on Wednesday, hitting $132.78. The stock had a trading volume of 1,345,014 shares, compared to its average volume of 6,121,550. 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 company has a market capitalization of $231.02 billion, a PE ratio of 17.36, a PEG ratio of 2.52 and a beta of 0.74. The firm has a 50 day moving average price of $130.07 and a 200 day moving average price of $124.90. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

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, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock valued at $12,745,859. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup increased their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Raymond James increased their price objective 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

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.