Yousif Capital Management LLC Has $35.05 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Yousif Capital Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,236 shares of the healthcare product maker’s stock after selling 6,707 shares during the period. Yousif Capital Management LLC’s holdings in Abbott Laboratories were worth $35,051,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC raised its holdings in Abbott Laboratories by 78.4% during the 4th 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 last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the business’s 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 approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ABT. 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 report on Thursday, April 17th. The Goldman Sachs Group lifted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barclays lifted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Price Performance

ABT opened at $133.41 on Tuesday. 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 company has a market capitalization of $232.11 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.52 and a beta of 0.73. The firm’s fifty day moving average price is $130.77 and its two-hundred day moving average price is $126.01. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.