Sonora Investment Management Group LLC Has $1.10 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Sonora Investment Management Group LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,308 shares of the healthcare product maker’s stock after selling 274 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Abbott Laboratories were worth $1,102,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Tallon Kerry Patrick acquired a new position in Abbott Laboratories in the 4th quarter valued at approximately $200,000. LaFleur & Godfrey LLC raised its stake in shares of Abbott Laboratories by 23.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after purchasing an additional 15,692 shares in the last quarter. Brighton Jones LLC lifted its position in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Abbott Laboratories during the fourth quarter worth $29,120,000. Finally, Strategic Financial Concepts LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $316,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 0.1%

Shares of NYSE:ABT opened at $133.41 on Tuesday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a market cap of $232.11 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.52 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $130.77 and its two-hundred day moving average price is $126.01.

Abbott Laboratories (NYSE:ABT) last released its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $10.38 billion. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Citigroup lifted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barclays increased their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Morgan Stanley upped their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. Finally, Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’s 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 transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.