Princeton Global Asset Management LLC Sells 2,014 Shares of Abbott Laboratories (NYSE:ABT)

Princeton Global Asset Management LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 13.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 12,709 shares of the healthcare product maker’s stock after selling 2,014 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Abbott Laboratories were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC lifted its holdings in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $133.61 on Friday. The business’s 50-day moving average price is $130.74 and its 200-day moving average price is $125.77. The firm has a market capitalization of $232.45 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the business’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 value of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was 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 hyperlink. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABT. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Barclays raised their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Stifel Nicolaus upped their price target 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. Finally, Citigroup increased their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Four equities research 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’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price 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.