Ayrshire Capital Management LLC Sells 1,060 Shares of Abbott Laboratories (NYSE:ABT)

Ayrshire Capital Management LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,167 shares of the healthcare product maker’s stock after selling 1,060 shares during the period. Abbott Laboratories makes up 2.8% of Ayrshire Capital Management LLC’s portfolio, making the stock its 21st largest holding. Ayrshire Capital Management LLC’s holdings in Abbott Laboratories were worth $5,859,000 as of its most recent SEC filing.

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

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on 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 sale, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABT. Jefferies Financial Group upped their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Citigroup increased their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Four investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.59.

Abbott Laboratories Stock Down 0.1%

Shares of NYSE:ABT opened at $133.41 on Tuesday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a market cap of $232.11 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.52 and a beta of 0.73. 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’s 50-day moving average price is $130.77 and its two-hundred day moving average price is $126.01.

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

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.