Abbott Laboratories (NYSE:ABT) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,168 shares of the healthcare product maker’s stock after selling 11,619 shares during the period. Western Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the 4th quarter worth $26,000. NewSquare Capital LLC increased its holdings in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90% 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 in the last three months. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABT shares. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. 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 report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, UBS Group upped their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Stock Down 1.2%

ABT stock opened at $131.46 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $228.72 billion, a P/E ratio of 17.18, a PEG ratio of 2.52 and a beta of 0.74. The company’s 50 day moving average is $129.77 and its two-hundred day moving average is $124.52. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.