Integrated Advisors Network LLC Boosts Stake in Abbott Laboratories (NYSE:ABT)

Integrated Advisors Network LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,872 shares of the healthcare product maker’s stock after buying an additional 268 shares during the period. Integrated Advisors Network LLC’s holdings in Abbott Laboratories were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Three Seasons Wealth LLC purchased a new position in Abbott Laboratories during the fourth quarter worth about $1,428,000. Welch Group LLC raised its stake in Abbott Laboratories by 5.3% during the fourth quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock worth $7,744,000 after purchasing an additional 3,479 shares during the period. Voleon Capital Management LP purchased a new position in Abbott Laboratories during the fourth quarter worth about $273,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock worth $133,691,000 after purchasing an additional 57,499 shares during the period. Finally, Bank Pictet & Cie Europe AG raised its stake in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other news, SVP Eric Shroff sold 562 shares of the business’s 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 sale, the senior vice president now owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABT. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Bank of America boosted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Barclays boosted their price target 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. Finally, Raymond James boosted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Trading Down 0.1%

NYSE ABT opened at $131.31 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market capitalization of $228.46 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The firm has a 50 day moving average of $129.87 and a two-hundred day moving average of $124.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping 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 company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS 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.