Abbott Laboratories (NYSE:ABT) Holdings Lowered by Thompson Investment Management Inc.

Thompson Investment Management Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,648 shares of the healthcare product maker’s stock after selling 140 shares during the quarter. Thompson Investment Management Inc.’s holdings in Abbott Laboratories were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ABT shares. Raymond James boosted their price objective 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. Wall Street Zen lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Bank of America boosted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Royal Bank of Canada boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Trading Up 0.5%

Shares of NYSE:ABT opened at $134.04 on Wednesday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market cap of $233.21 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.52 and a beta of 0.73. The stock’s 50-day moving average is $130.82 and its 200-day moving average is $126.06.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping 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 predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Buying and Selling at Abbott Laboratories

In other 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 transaction of $337,116.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.