Enterprise Bank & Trust Co Acquires 548 Shares of Abbott Laboratories (NYSE:ABT)

Enterprise Bank & Trust Co lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,651 shares of the healthcare product maker’s stock after acquiring an additional 548 shares during the period. Abbott Laboratories makes up 1.5% of Enterprise Bank & Trust Co’s holdings, making the stock its 18th biggest holding. Enterprise Bank & Trust Co’s holdings in Abbott Laboratories were worth $3,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the 4th quarter valued at $26,000. NewSquare Capital LLC lifted its stake in Abbott Laboratories by 78.4% during the 4th 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 in the last quarter. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.6%

Shares of ABT opened at $133.68 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The business has a 50-day moving average of $130.46 and a 200 day moving average of $125.31. The firm has a market cap of $232.58 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping 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. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABT shares. Piper Sandler restated an “overweight” rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.59.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90% 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 the SEC website. Also, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

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.