Hudson Valley Investment Advisors Inc. ADV Trims Holdings in Abbott Laboratories (NYSE:ABT)

Hudson Valley Investment Advisors Inc. ADV decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,309 shares of the healthcare product maker’s stock after selling 285 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Abbott Laboratories were worth $1,367,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after buying an additional 739,260 shares in the last quarter. Capital International Investors increased its stake in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares during the last quarter. Capital Research Global Investors increased its stake in Abbott Laboratories by 1.5% during the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock worth $6,118,903,000 after acquiring an additional 795,073 shares during the last quarter. Geode Capital Management LLC increased its stake in Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after acquiring an additional 765,636 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Abbott Laboratories by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after acquiring an additional 581,325 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.2%

NYSE:ABT opened at $133.61 on Friday. The stock has a 50-day simple moving average of $130.74 and a 200-day simple moving average of $125.77. The stock has a market cap of $232.45 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year 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.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Wall Street Zen cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $142.59.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was 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 of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Profile

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.