Pratt Collard Advisory Partners LLC Invests $2.62 Million in Abbott Laboratories (ABT) Stock

Pratt Collard Advisory Partners LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 45,836 shares of the healthcare product maker’s stock, valued at approximately $2,616,000. Abbott Laboratories comprises approximately 2.2% of Pratt Collard Advisory Partners LLC’s holdings, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cobblestone Capital Advisors LLC NY boosted its position in Abbott Laboratories by 0.3% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock valued at $803,000 after buying an additional 56 shares during the last quarter. National Planning Corp boosted its position in Abbott Laboratories by 0.3% in the 2nd quarter. National Planning Corp now owns 26,732 shares of the healthcare product maker’s stock valued at $1,302,000 after buying an additional 83 shares during the last quarter. Farmers National Bank boosted its position in Abbott Laboratories by 2.4% in the 2nd quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock valued at $178,000 after buying an additional 85 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in Abbott Laboratories by 0.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 12,341 shares of the healthcare product maker’s stock valued at $600,000 after buying an additional 87 shares during the last quarter. Finally, Hedeker Wealth LLC boosted its position in Abbott Laboratories by 0.5% in the 2nd quarter. Hedeker Wealth LLC now owns 24,678 shares of the healthcare product maker’s stock valued at $1,199,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.

A number of research analysts have commented on ABT shares. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. BMO Capital Markets upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $58.00 to $65.00 in a research report on Tuesday, December 12th. Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. upgraded Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Tuesday, January 2nd. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $65.47.

In related news, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sharon J. Bracken sold 2,188 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the sale, the insider now directly owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. Insiders have sold a total of 348,439 shares of company stock worth $19,306,683 in the last ninety days. 0.76% of the stock is currently owned by company insiders.

Shares of Abbott Laboratories (NYSE ABT) opened at $59.12 on Wednesday. The company has a market capitalization of $105,076.91, a price-to-earnings ratio of 227.39, a P/E/G ratio of 1.81 and a beta of 1.56. Abbott Laboratories has a 12 month low of $42.31 and a 12 month high of $64.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The firm’s revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is presently 430.79%.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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