Wynn Capital LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Wynn Capital LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 37.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,811 shares of the healthcare product maker’s stock after buying an additional 1,314 shares during the quarter. Wynn Capital LLC’s holdings in Abbott Laboratories were worth $638,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC raised its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $133.61 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a 50-day simple moving average of $130.74 and a 200-day simple moving average of $125.84. The stock has a market capitalization of $232.45 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

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, beating 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. On average, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Activity at Abbott Laboratories

In related 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 completion of the sale, the director now owns 34,058 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Wall Street Zen cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. Four 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’s stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus 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.