GEM Asset Management LLC Has $499,000 Holdings in Abbott Laboratories (NYSE:ABT)

GEM Asset Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,792 shares of the healthcare product maker’s stock after selling 171 shares during the quarter. GEM Asset Management LLC’s holdings in Abbott Laboratories were worth $499,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on 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 transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the topic of several research reports. Royal Bank of Canada upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Bank of America upped their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barclays boosted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Finally, Raymond James boosted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Stock Down 0.8%

NYSE ABT opened at $135.41 on Monday. The business has a fifty day moving average price of $131.50 and a two-hundred day moving average price of $126.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The stock has a market capitalization of $235.59 billion, a PE ratio of 17.70, a PEG 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 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 firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories’s payout ratio is presently 30.61%.

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.