Moss Adams Wealth Advisors LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Moss Adams Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,116 shares of the healthcare product maker’s stock after buying an additional 178 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,209,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.61 on Monday. The firm has a 50-day moving average of $130.74 and a 200-day moving average of $125.90. The company 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. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

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 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 analyst estimates of $10.38 billion. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABT. Barclays boosted their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Stifel Nicolaus boosted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Citigroup boosted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Morgan Stanley upped their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average 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.