Griffith & Werner Inc. Invests $235,000 in Abbott Laboratories (NYSE:ABT)

Griffith & Werner Inc. acquired a new stake in Abbott Laboratories (NYSE:ABT) during the 4th quarter, Holdings Channel reports. The fund acquired 2,080 shares of the healthcare product maker’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $131.31 on Friday. The business has a 50-day moving average price of $129.87 and a two-hundred day moving average price of $124.62. Abbott Laboratories has a 1-year low of $99.71 and a 1-year 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. The company has a market cap of $228.46 billion, a P/E ratio of 17.16, a PEG ratio of 2.52 and a beta of 0.74.

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

Insiders Place Their Bets

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were 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 of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,278 shares of company stock worth $12,745,859. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ABT. Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research 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. Piper Sandler reiterated an “overweight” rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Bank of America lifted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

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.