Thrive Wealth Management LLC Sells 126 Shares of Abbott Laboratories (NYSE:ABT)

Thrive Wealth Management LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,641 shares of the healthcare product maker’s stock after selling 126 shares during the quarter. Thrive Wealth Management LLC’s holdings in Abbott Laboratories were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Three Seasons Wealth LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $1,428,000. Voleon Capital Management LP acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of 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 valued at $133,691,000 after acquiring an additional 57,499 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of 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 purchasing an additional 2,774 shares during the period. Finally, Hager Investment Management Services LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth $328,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

NYSE ABT opened at $132.99 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $231.38 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm’s 50-day simple moving average is $130.69 and its two-hundred day simple moving average is $125.54.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Raymond James upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Wells Fargo & Company raised their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Barclays upped their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Insiders Place Their Bets

In related 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 transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.