Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,115 Shares of Abbott Laboratories (NYSE:ABT)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,452 shares of the healthcare product maker’s stock after selling 1,115 shares during the period. Abbott Laboratories makes up 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 20th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Abbott Laboratories were worth $12,794,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the fourth quarter valued at about $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. NewSquare Capital LLC grew its position in Abbott Laboratories by 78.4% in the fourth 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 during the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories in the fourth quarter valued at about $29,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $136.33 on Friday. The stock’s 50 day moving average is $131.26 and its 200 day moving average is $126.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market cap of $237.19 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates 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 expect that Abbott Laboratories will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Wells Fargo & Company lifted their price target on 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 lifted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.59.

About Abbott Laboratories

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.