Relative Value Partners Group LLC Has $948,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Posted by Defense World Staff on Sep 10th, 2023

Relative Value Partners Group LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,393 shares of the healthcare product maker’s stock after selling 620 shares during the quarter. Relative Value Partners Group LLC’s holdings in Abbott Laboratories were worth $948,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in shares of Abbott Laboratories during the first quarter valued at about $131,000. United Bank lifted its holdings in shares of Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after purchasing an additional 1,826 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Abbott Laboratories by 1.9% during the first quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock valued at $96,257,000 after buying an additional 15,521 shares during the last quarter. Kinneret Advisory LLC boosted its stake in Abbott Laboratories by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after purchasing an additional 436 shares during the last quarter. Finally, Lumature Wealth Partners LLC grew its holdings in Abbott Laboratories by 636.2% during the first quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after buying an additional 1,915 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the transaction, the director now owns 6,775,316 shares in the company, valued at approximately $770,759,948.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $113.76, for a total value of $5,688,000.00. Following the completion of the transaction, the director now owns 6,775,316 shares of the company’s stock, valued at $770,759,948.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.1 %

NYSE:ABT opened at $100.73 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.64 and a quick ratio of 1.16. The company has a 50-day moving average of $106.64 and a 200 day moving average of $105.17. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $115.83. The firm has a market cap of $174.80 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 4.50 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $9.71 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, research analysts anticipate that Abbott Laboratories will post 4.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ABT shares. Wolfe Research raised shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 21st. Morgan Stanley restated an “equal weight” rating and set a $112.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. StockNews.com assumed coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Barclays lifted their price target on Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Finally, Mizuho lifted their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.82.

Read Our Latest Stock Analysis on Abbott Laboratories

About Abbott Laboratories

(Free Report)

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 Established Pharmaceutical Products segment 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.