Abbott Laboratories (NYSE:ABT) Shares Bought by First Western Trust Bank

Posted by Jared Coughlin on May 26th, 2023

First Western Trust Bank increased its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,936 shares of the healthcare product maker’s stock after purchasing an additional 1,179 shares during the period. Abbott Laboratories accounts for about 0.5% of First Western Trust Bank’s portfolio, making the stock its 27th largest position. First Western Trust Bank’s holdings in Abbott Laboratories were worth $7,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC lifted its stake in Abbott Laboratories by 2.4% during the 3rd quarter. Ameritas Advisory Services LLC now owns 21,523 shares of the healthcare product maker’s stock valued at $2,083,000 after acquiring an additional 495 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Abbott Laboratories by 6.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 6,141 shares of the healthcare product maker’s stock valued at $674,000 after purchasing an additional 389 shares during the period. Oak Family Advisors LLC lifted its stake in shares of Abbott Laboratories by 15.4% in the 4th quarter. Oak Family Advisors LLC now owns 12,735 shares of the healthcare product maker’s stock valued at $1,398,000 after purchasing an additional 1,703 shares during the period. Calton & Associates Inc. lifted its stake in shares of Abbott Laboratories by 24.4% in the 4th quarter. Calton & Associates Inc. now owns 2,859 shares of the healthcare product maker’s stock valued at $314,000 after purchasing an additional 561 shares during the period. Finally, Prudential PLC lifted its stake in shares of Abbott Laboratories by 20.1% in the 4th quarter. Prudential PLC now owns 136,388 shares of the healthcare product maker’s stock valued at $14,974,000 after purchasing an additional 22,858 shares during the period. 72.93% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.5 %

Shares of ABT stock traded up $0.52 during trading hours on Friday, reaching $102.66. 2,100,914 shares of the stock were exchanged, compared to its average volume of 5,042,462. The business’s fifty day moving average is $105.64 and its two-hundred day moving average is $106.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.68 and a quick ratio of 1.22. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $118.23. The firm has a market capitalization of $178.52 billion, a P/E ratio of 31.40, a P/E/G ratio of 4.66 and a beta of 0.67.

Abbott Laboratories (NYSE:ABT – Get Rating) last released its earnings results on Wednesday, April 19th. The healthcare product maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. Abbott Laboratories had a net margin of 13.98% and a return on equity of 22.36%. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.64 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 4.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABT. Citigroup boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Raymond James boosted their price target on shares of Abbott Laboratories from $116.00 to $123.00 in a report on Thursday, April 20th. UBS Group boosted their price target on shares of Abbott Laboratories from $117.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $140.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. Finally, Bank of America dropped their target price on shares of Abbott Laboratories from $125.00 to $115.00 in a report on Thursday, March 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.37.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 8,226 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $110.56, for a total value of $909,466.56. Following the transaction, the executive vice president now directly owns 70,427 shares in the company, valued at $7,786,409.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 8,226 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $110.56, for a total value of $909,466.56. Following the transaction, the executive vice president now directly owns 70,427 shares in the company, valued at $7,786,409.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $111.02, for a total transaction of $5,551,000.00. Following the completion of the transaction, the director now owns 6,825,316 shares in the company, valued at $757,746,582.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,937 shares of company stock worth $6,632,764. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Profile

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.