Abbott Laboratories (NYSE:ABT) Shares Sold by CreativeOne Wealth LLC

CreativeOne Wealth LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 60.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,102 shares of the healthcare product maker’s stock after selling 9,275 shares during the period. CreativeOne Wealth LLC’s holdings in Abbott Laboratories were worth $672,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $280,000. Corient Private Wealth LLC grew its stake in shares of Abbott Laboratories by 10.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,449,528 shares of the healthcare product maker’s stock valued at $269,620,000 after acquiring an additional 234,519 shares in the last quarter. Sachetta LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $736,000. Clearbridge Investments LLC grew its stake in shares of Abbott Laboratories by 186.0% during the fourth quarter. Clearbridge Investments LLC now owns 231,552 shares of the healthcare product maker’s stock valued at $25,487,000 after acquiring an additional 150,597 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Abbott Laboratories by 2.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 58,438 shares of the healthcare product maker’s stock worth $6,432,000 after purchasing an additional 1,436 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders have sold a total of 46,884 shares of company stock valued at $5,153,916 over the last quarter. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 0.1 %

ABT stock opened at $104.88 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a fifty day simple moving average of $108.59 and a 200 day simple moving average of $109.50. The firm has a market cap of $182.45 billion, a PE ratio of 32.67, a PEG ratio of 2.48 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ABT. Barclays cut their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $120.60.

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.