First City Capital Management Inc. Sells 794 Shares of Abbott Laboratories (NYSE:ABT)

First City Capital Management Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 11.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,239 shares of the healthcare product maker’s stock after selling 794 shares during the period. First City Capital Management Inc.’s holdings in Abbott Laboratories were worth $828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Three Seasons Wealth LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $1,428,000. Voleon Capital Management LP bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Abbott Laboratories by 5.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after purchasing an additional 57,499 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Finally, DSM Capital Partners LLC lifted its stake in shares of Abbott Laboratories by 75.6% in the 4th quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker’s stock valued at $97,207,000 after purchasing an additional 370,049 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. 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 note on Thursday, April 17th. Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Citigroup raised their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Stock Down 0.2%

Shares of ABT stock opened at $133.61 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The stock’s fifty day moving average price is $130.74 and its 200 day moving average price is $125.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $232.45 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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 business had revenue of $10.36 billion for 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%. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business’s 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 transaction, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

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.