LexAurum Advisors LLC Has $353,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

LexAurum Advisors LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,663 shares of the healthcare product maker’s stock after selling 98 shares during the quarter. LexAurum Advisors LLC’s holdings in Abbott Laboratories were worth $353,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cim LLC boosted its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after acquiring an additional 73 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares in the last quarter. Capital Square LLC grew its position in Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 77 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after buying an additional 79 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC lifted its stake in shares of Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective 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. 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. Wells Fargo & Company increased their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research 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 company an “outperform” rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada raised their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the business’s 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 transaction, the director now owns 34,058 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.2%

Abbott Laboratories stock opened at $133.61 on Monday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The firm has a market capitalization of $232.45 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 2.52 and a beta of 0.73. The firm has a 50 day moving average of $130.74 and a 200 day moving average of $125.90. The company has a current ratio of 1.60, a quick ratio of 1.14 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, topping 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 during the quarter, compared to analysts’ expectations of $10.38 billion. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

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.