Abbott Laboratories (NYSE:ABT) Holdings Decreased by Ellenbecker Investment Group

Ellenbecker Investment Group lessened its stake in Abbott Laboratories (NYSE:ABT) by 4.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,985 shares of the healthcare product maker’s stock after selling 217 shares during the period. Ellenbecker Investment Group’s holdings in Abbott Laboratories were worth $661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter valued at about $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 valued at $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABT. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Raymond James raised their price objective 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. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Price Performance

Shares of ABT opened at $134.04 on Wednesday. The firm has a market cap of $233.21 billion, a PE ratio of 17.52, a PEG ratio of 2.52 and a beta of 0.73. The firm’s 50 day moving average price is $130.82 and its 200 day moving average price is $126.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 analyst estimates of $10.38 billion. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the 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 transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.