Abbott Laboratories (NYSE:ABT) Stock Holdings Lessened by Independence Bank of Kentucky

Independence Bank of Kentucky cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,978 shares of the healthcare product maker’s stock after selling 1,478 shares during the quarter. Independence Bank of Kentucky’s holdings in Abbott Laboratories were worth $4,375,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABT. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Thursday, April 17th. Bank of America lifted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Barclays raised their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Finally, Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Four 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Trading Down 0.2%

Shares of NYSE:ABT opened at $133.61 on Friday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $232.45 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a 50-day simple moving average of $130.74 and a 200 day simple moving average of $125.77.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during 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%. Sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

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.