Abbott Laboratories (NYSE:ABT) Position Decreased by AdvisorNet Financial Inc

AdvisorNet Financial Inc decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,543 shares of the healthcare product maker’s stock after selling 3,558 shares during the period. AdvisorNet Financial Inc’s holdings in Abbott Laboratories were worth $6,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $26,000. NewSquare Capital LLC lifted its stake in Abbott Laboratories by 78.4% during the fourth 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 purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, 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 value of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,278 shares of company stock worth $12,745,859 over the last 90 days. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Citigroup increased their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Price Performance

Shares of ABT opened at $132.80 on Friday. The firm has a market cap of $231.04 billion, a PE ratio of 17.36, a PEG ratio of 2.52 and a beta of 0.74. The firm’s 50 day moving average price is $130.30 and its 200 day moving average price is $125.06. 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. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

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.