Baldwin Wealth Partners LLC MA Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Baldwin Wealth Partners LLC MA lowered its position in Abbott Laboratories (NYSE:ABT) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,839 shares of the healthcare product maker’s stock after selling 528 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Abbott Laboratories were worth $907,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABT. Cherrydale Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $201,000. Capital Investment Advisors LLC lifted its holdings in Abbott Laboratories by 5.3% during the first quarter. Capital Investment Advisors LLC now owns 22,737 shares of the healthcare product maker’s stock worth $3,016,000 after acquiring an additional 1,137 shares during the period. Hickory Point Bank & Trust purchased a new position in Abbott Laboratories in the first quarter worth $216,000. Park Avenue Securities LLC increased its position in shares of Abbott Laboratories by 7.5% during the 1st quarter. Park Avenue Securities LLC now owns 78,829 shares of the healthcare product maker’s stock valued at $10,457,000 after purchasing an additional 5,521 shares during the last quarter. Finally, Greenspring Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $227,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.2%

Shares of Abbott Laboratories stock opened at $133.61 on Monday. The company’s 50-day moving average price is $130.74 and its 200-day moving average price is $125.90. The company has a market cap of $232.45 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

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

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Morgan Stanley increased their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Citigroup raised their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Bank of America increased their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Four investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.59.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.