Revolve Wealth Partners LLC Has $330,000 Position in Abbott Laboratories (NYSE:ABT)

Revolve Wealth Partners LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,488 shares of the healthcare product maker’s stock after purchasing an additional 400 shares during the period. Revolve Wealth Partners LLC’s holdings in Abbott Laboratories were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the fourth quarter worth about $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories in the fourth quarter worth about $26,000. NewSquare Capital LLC raised its position in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories in the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories 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 value of $337,116.00. Following the sale, the director now directly owns 34,058 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock 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 stock has a market cap of $232.45 billion, a PE ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73. 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 50 day moving average price is $130.74 and its two-hundred day moving average price is $125.84.

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 net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Analysts Set New Price Targets

ABT has been the topic of several research analyst reports. Wall Street Zen cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Citigroup upped their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. Four 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

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.