Midland Wealth Advisors LLC Lowers Stake in Abbott Laboratories (NYSE:ABT)

Midland Wealth Advisors LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,268 shares of the healthcare product maker’s stock after selling 366 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,158,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after acquiring an additional 739,260 shares during the period. Capital International Investors increased its position in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares during the last quarter. Capital Research Global Investors boosted its holdings 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 purchasing an additional 795,073 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after buying an additional 765,636 shares during 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 worth $2,985,233,000 after buying an additional 581,325 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

ABT opened at $133.61 on Monday. 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 company has a 50-day moving average of $130.74 and a 200-day moving average of $125.90. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a market capitalization of $232.45 billion, a P/E ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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 return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred 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 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 document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of several research analyst reports. Stifel Nicolaus upped 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. Morgan Stanley raised 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. Raymond James boosted their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Finally, Barclays increased their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

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.