Tealwood Asset Management Inc. Sells 17,515 Shares of Abbott Laboratories (NYSE:ABT)

Tealwood Asset Management Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 59.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,104 shares of the healthcare product maker’s stock after selling 17,515 shares during the period. Tealwood Asset Management Inc.’s holdings in Abbott Laboratories were worth $1,606,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Three Seasons Wealth LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $1,428,000. Voleon Capital Management LP bought a new position in Abbott Laboratories during the fourth quarter worth about $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 during 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 during 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 during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Raymond James lifted their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Barclays lifted their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada lifted 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. Four research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories 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 sale, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.2%

Abbott Laboratories stock opened at $133.61 on Friday. The business has a 50-day simple moving average of $130.74 and a two-hundred day simple moving average of $125.77. The company has a market cap of $232.45 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week 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.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current 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.