Retirement Planning Group LLC NY Makes New Investment in Abbott Laboratories (NYSE:ABT)

Retirement Planning Group LLC NY bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,249 shares of the healthcare product maker’s stock, valued at approximately $368,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC raised its position in shares of 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 buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Raymond James boosted their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group upped their price target 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. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Price Performance

ABT opened at $131.31 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 company has a 50 day moving average of $129.87 and a two-hundred day moving average of $124.62. The company has a market cap of $228.46 billion, a P/E ratio of 17.16, a P/E/G ratio of 2.52 and a beta of 0.74.

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, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. This represents a 1.73% 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. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This trade represents a 55.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock worth $12,745,859 over the last ninety days. 0.46% of the stock is owned by company insiders.

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.