Prairie Sky Financial Group LLC Purchases 17,623 Shares of Abbott Laboratories (NYSE:ABT)

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

Several other institutional investors have also modified their holdings of the business. Tallon Kerry Patrick acquired a new position in Abbott Laboratories during the fourth quarter worth approximately $200,000. LaFleur & Godfrey LLC increased its holdings in shares of Abbott Laboratories by 23.5% in the 4th 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 shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Abbott Laboratories during the fourth quarter worth $29,120,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $316,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABT shares. Piper Sandler reiterated an “overweight” rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their target price 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. Finally, The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $133.41 on Tuesday. 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 company has a market capitalization of $232.11 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The business has a 50 day simple moving average of $130.77 and a 200-day simple moving average of $126.01.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $10.38 billion. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

About Abbott Laboratories

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.