Hickory Point Bank & Trust Invests $216,000 in Abbott Laboratories (NYSE:ABT)

Hickory Point Bank & Trust bought a new stake in Abbott Laboratories (NYSE:ABT) during the first quarter, Holdings Channel.com reports. The fund bought 1,632 shares of the healthcare product maker’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter worth approximately $26,000. NewSquare Capital LLC lifted its stake in 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 stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Wall Street Zen downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Raymond James lifted their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Four equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Insider Buying and Selling at Abbott Laboratories

In other 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 transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.2%

NYSE:ABT opened at $133.61 on Friday. 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. The stock has a fifty day moving average price of $130.74 and a two-hundred day moving average price of $125.84. The stock has a market capitalization of $232.45 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Company 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.