Redhawk Wealth Advisors Inc. Invests $297,000 in Abbott Laboratories (NYSE:ABT)

Redhawk Wealth Advisors Inc. purchased a new stake in Abbott Laboratories (NYSE:ABT) in the first quarter, HoldingsChannel reports. The firm purchased 2,236 shares of the healthcare product maker’s stock, valued at approximately $297,000.

Other institutional investors have also recently bought and sold shares of the company. Three Seasons Wealth LLC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $1,428,000. Voleon Capital Management LP bought a new position in Abbott Laboratories in the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich raised its position in Abbott Laboratories by 5.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock worth $133,691,000 after purchasing an additional 57,499 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Finally, DSM Capital Partners LLC raised its position in Abbott Laboratories by 75.6% in the 4th quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker’s stock worth $97,207,000 after purchasing an additional 370,049 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $134.88 on Thursday. The firm has a market cap of $234.67 billion, a PE ratio of 17.63, a PEG ratio of 2.52 and a beta of 0.73. 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 has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a fifty day moving average price of $131.03 and a 200 day moving average price of $126.12.

Abbott Laboratories (NYSE:ABT) last announced 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. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ABT shares. Raymond James boosted their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Stifel Nicolaus lifted their target price 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. Wall Street Zen lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Finally, Citigroup lifted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Insider Buying and Selling

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

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.