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

Iams Wealth Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 16,590 shares of the healthcare product maker’s stock after selling 860 shares during the quarter. Iams Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,201,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Lakeshore Capital Group Inc. grew its holdings in shares of Abbott Laboratories by 1.9% during the first quarter. Lakeshore Capital Group Inc. now owns 6,941 shares of the healthcare product maker’s stock worth $921,000 after buying an additional 127 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Abbott Laboratories in the first quarter valued at about $609,000. Amplius Wealth Advisors LLC acquired a new position in Abbott Laboratories in the first quarter valued at about $221,000. Apella Capital LLC lifted its position in Abbott Laboratories by 29.3% in the first quarter. Apella Capital LLC now owns 8,239 shares of the healthcare product maker’s stock valued at $1,047,000 after buying an additional 1,868 shares during the last quarter. Finally, Heritage Family Offices LLP lifted its position in Abbott Laboratories by 94.1% in the first quarter. Heritage Family Offices LLP now owns 14,808 shares of the healthcare product maker’s stock valued at $1,964,000 after buying an additional 7,180 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the company’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 transaction, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sally E. Blount sold 2,600 shares of the firm’s 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 sale, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 0.1%

ABT opened at $133.74 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $232.69 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The business has a 50-day moving average of $130.64 and a two-hundred day moving average of $125.49. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued 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. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on ABT shares. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Citigroup upped their target price 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. Raymond James increased their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Bank of America increased their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Four 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Company 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.