OLD National Bancorp IN Has $15.01 Million Position in Abbott Laboratories (NYSE:ABT)

OLD National Bancorp IN cut its position in Abbott Laboratories (NYSE:ABT) by 0.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,120 shares of the healthcare product maker’s stock after selling 851 shares during the quarter. OLD National Bancorp IN’s holdings in Abbott Laboratories were worth $15,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock valued at $19,075,481,000 after buying an additional 739,260 shares in the last quarter. Capital International Investors raised its position in shares of Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after buying an additional 2,229,026 shares in the last quarter. Capital Research Global Investors raised its position in shares of Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock valued at $6,118,903,000 after buying an additional 795,073 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock valued at $4,023,027,000 after buying an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock valued at $2,985,233,000 after buying an additional 581,325 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.2%

NYSE:ABT opened at $133.61 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s fifty day moving average is $130.74 and its 200-day moving average is $125.84. The firm 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 (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Raymond James lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Morgan Stanley lifted their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.