IAM Advisory LLC Has $213,000 Stake in Abbott Laboratories (NYSE:ABT)

IAM Advisory LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,606 shares of the healthcare product maker’s stock after selling 276 shares during the quarter. IAM Advisory LLC’s holdings in Abbott Laboratories were worth $213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Three Seasons Wealth LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $1,428,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories during the fourth quarter worth about $273,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings 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 acquiring an additional 57,499 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings 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 acquiring an additional 2,774 shares in the last quarter. Finally, DSM Capital Partners LLC raised its holdings in Abbott Laboratories by 75.6% during the fourth quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker’s stock worth $97,207,000 after acquiring an additional 370,049 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $133.61 on Friday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock’s 50 day moving average is $130.74 and its 200-day moving average is $125.77. 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 company has a market capitalization of $232.45 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America upped their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Wall Street Zen downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four equities research 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 stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the business’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 value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

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.