Pallas Capital Advisors LLC Has $13.18 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Pallas Capital Advisors LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,333 shares of the healthcare product maker’s stock after acquiring an additional 3,352 shares during the period. Pallas Capital Advisors LLC’s holdings in Abbott Laboratories were worth $13,177,000 as of its most recent filing with the Securities and Exchange Commission.

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

Abbott Laboratories Price Performance

NYSE ABT opened at $133.61 on Monday. The firm’s 50 day moving average is $130.74 and its 200-day moving average is $125.90. 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 12-month low of $99.71 and a 12-month high of $141.23. The company has a market capitalization of $232.45 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

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

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the 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 sale, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Citigroup boosted 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. Raymond James increased their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Finally, Bank of America increased their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Four investment 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 company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus 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.