Prairie Sky Financial Group LLC Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Prairie Sky Financial Group LLC grew its position in Abbott Laboratories (NYSE:ABT) by 22.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,105 shares of the healthcare product maker’s stock after buying an additional 17,623 shares during the quarter. Abbott Laboratories makes up approximately 7.6% of Prairie Sky Financial Group LLC’s portfolio, making the stock its 3rd largest position. Prairie Sky Financial Group LLC’s holdings in Abbott Laboratories were worth $12,748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cim LLC increased its stake in Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock valued at $1,919,000 after buying an additional 73 shares during the period. Cape Investment Advisory Inc. boosted its holdings in Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after acquiring an additional 76 shares during the period. Capital Square LLC grew its holdings in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after buying an additional 77 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after acquiring an additional 79 shares during the last quarter. Finally, LMG Wealth Partners LLC increased its holdings in shares of Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, 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 transaction, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.1%

Shares of ABT stock opened at $133.41 on Tuesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market capitalization of $232.11 billion, a P/E ratio of 17.44, a PEG ratio of 2.52 and a beta of 0.73. 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 firm’s fifty day moving average price is $130.77 and its two-hundred day moving average price is $126.01.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Raymond James boosted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. The Goldman Sachs Group raised their target price on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories 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.