Ayrshire Capital Management LLC Sells 1,060 Shares of Abbott Laboratories (NYSE:ABT)

Ayrshire Capital Management LLC lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,167 shares of the healthcare product maker’s stock after selling 1,060 shares during the quarter. Abbott Laboratories accounts for about 2.8% of Ayrshire Capital Management LLC’s portfolio, making the stock its 21st biggest position. Ayrshire Capital Management LLC’s holdings in Abbott Laboratories were worth $5,859,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.1%

Shares of ABT stock opened at $133.41 on Tuesday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock has a market cap of $232.11 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.52 and a beta of 0.73. The firm’s 50-day moving average is $130.77 and its 200-day moving average is $126.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABT shares. Wall Street Zen cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Thursday, April 17th. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company raised 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. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

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.