Hilltop Wealth Advisors LLC Cuts Stake in Abbott Laboratories (NYSE:ABT)

Hilltop Wealth Advisors LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,949 shares of the healthcare product maker’s stock after selling 153 shares during the period. Hilltop Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $259,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories during the fourth quarter valued at $26,000. NewSquare Capital LLC lifted 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 buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.8%

NYSE:ABT opened at $136.33 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $131.26 and a 200-day simple moving average of $126.25. The company has a market cap of $237.19 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABT shares. Citigroup raised their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley raised their price target on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction dated Wednesday, April 30th. The stock was 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 directly owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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.