Worth Asset Management LLC Purchases Shares of 10,984 Abbott Laboratories (NYSE:ABT)

Worth Asset Management LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,984 shares of the healthcare product maker's stock, valued at approximately $1,457,000.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Fiduciary Alliance LLC lifted its holdings in shares of Abbott Laboratories by 29.4% during the 1st quarter. Fiduciary Alliance LLC now owns 23,206 shares of the healthcare product maker's stock valued at $3,078,000 after purchasing an additional 5,270 shares during the last quarter. Woodstock Corp boosted its holdings in Abbott Laboratories by 3.1% in the first quarter. Woodstock Corp now owns 136,620 shares of the healthcare product maker's stock worth $18,123,000 after acquiring an additional 4,151 shares in the last quarter. Wright Investors Service Inc. acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $937,000. American National Bank & Trust boosted its stake in Abbott Laboratories by 6.0% in the 1st quarter. American National Bank & Trust now owns 11,396 shares of the healthcare product maker's stock worth $1,512,000 after purchasing an additional 642 shares in the last quarter. Finally, Iowa State Bank increased its stake in Abbott Laboratories by 660.8% during the 1st quarter. Iowa State Bank now owns 14,547 shares of the healthcare product maker's stock valued at $1,930,000 after purchasing an additional 12,635 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Price Performance

ABT traded up $0.17 during trading on Tuesday, reaching $133.74. The company's stock had a trading volume of 5,914,174 shares, compared to its average volume of 6,150,016. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. 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 cap of $232.69 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.52 and a beta of 0.74. The firm has a fifty day simple moving average of $130.60 and a two-hundred day simple moving average of $125.43.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $10.38 billion. As a group, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. This trade represents a 55.90% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research analyst reports. Barclays boosted their price objective 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. Royal Bank of Canada upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. 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. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Finally, Raymond James boosted their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.