Abbott Laboratories (NYSE:ABT) Stake Lessened by Curbstone Financial Management Corp

Curbstone Financial Management Corp cut its stake in Abbott Laboratories (NYSE:ABT) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,482 shares of the healthcare product maker’s stock after selling 618 shares during the period. Curbstone Financial Management Corp’s holdings in Abbott Laboratories were worth $3,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Three Seasons Wealth LLC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $1,428,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock worth $133,691,000 after buying an additional 57,499 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after buying an additional 2,774 shares in the last quarter. Finally, DSM Capital Partners LLC boosted its holdings in Abbott Laboratories by 75.6% during the fourth quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker’s stock worth $97,207,000 after buying an additional 370,049 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 0.5%

ABT stock opened at $134.04 on Wednesday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $233.21 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.52 and a beta of 0.73. The company has a 50 day moving average of $130.82 and a two-hundred day moving average of $126.06.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The shares were 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 owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

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.