Impact Capital Partners LLC Has $2.89 Million Holdings in Abbott Laboratories (NYSE:ABT)

Impact Capital Partners LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,810 shares of the healthcare product maker’s stock after purchasing an additional 826 shares during the quarter. Abbott Laboratories makes up about 1.0% of Impact Capital Partners LLC’s investment portfolio, making the stock its 21st largest position. Impact Capital Partners LLC’s holdings in Abbott Laboratories were worth $2,893,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $26,000. NewSquare Capital LLC boosted its stake 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 acquired a new stake in Abbott Laboratories in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Bank of America boosted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Morgan Stanley lifted their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Finally, Raymond James lifted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Trading Down 0.2%

ABT stock opened at $133.61 on Friday. The company has a market cap of $232.45 billion, a P/E ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month 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 business has a fifty day moving average of $130.74 and a 200-day moving average of $125.77.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during 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 expect that Abbott Laboratories will post 5.14 EPS for the current year.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was 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 owns 34,058 shares in the company, valued at approximately $4,415,960.28. This 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 link. 0.46% of the stock is currently owned by corporate insiders.

About Abbott Laboratories

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.