ASB Consultores LLC Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

ASB Consultores LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 25.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,336 shares of the healthcare product maker’s stock after selling 1,507 shares during the quarter. ASB Consultores LLC’s holdings in Abbott Laboratories were worth $451,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in Abbott Laboratories during the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC increased its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research analyst reports. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 price target for the company. Piper Sandler initiated coverage on Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 price target for the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Evercore ISI reduced their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Abbott Laboratories Stock Down 0.6 %

NYSE:ABT opened at $114.15 on Friday. The firm has a market capitalization of $198.58 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average price is $110.32 and its 200 day moving average price is $108.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

About Abbott Laboratories

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.