Abbott Laboratories (NYSE:ABT) Shares Bought by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. grew its holdings in Abbott Laboratories (NYSE:ABT) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,241 shares of the healthcare product maker’s stock after purchasing an additional 290 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $6,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ferguson Wellman Capital Management Inc. raised its stake in shares of Abbott Laboratories by 3.6% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 236,650 shares of the healthcare product maker’s stock valued at $31,392,000 after acquiring an additional 8,221 shares in the last quarter. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter worth about $216,000. apricus wealth LLC lifted its stake in Abbott Laboratories by 19.1% in the first quarter. apricus wealth LLC now owns 5,473 shares of the healthcare product maker’s stock valued at $726,000 after buying an additional 879 shares during the last quarter. First United Bank & Trust raised its position in Abbott Laboratories by 5.0% in the 1st quarter. First United Bank & Trust now owns 16,718 shares of the healthcare product maker’s stock valued at $2,218,000 after purchasing an additional 789 shares during the last quarter. Finally, Simon Quick Advisors LLC boosted its stake in shares of Abbott Laboratories by 20.8% during the first quarter. Simon Quick Advisors LLC now owns 24,231 shares of the healthcare product maker’s stock worth $3,214,000 after buying an additional 4,176 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Wall Street Zen cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Bank of America upped their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company lifted their price target 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. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

Abbott Laboratories Trading Up 0.6%

Shares of NYSE ABT opened at $134.88 on Thursday. The stock has a market capitalization of $234.67 billion, a P/E ratio of 17.63, a PEG ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock’s 50 day moving average price is $131.03 and its two-hundred day moving average price is $126.12. 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 (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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.