Parr Mcknight Wealth Management Group LLC Takes $5.20 Million Position in Abbott Laboratories (NYSE:ABT)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 45,935 shares of the healthcare product maker's stock, valued at approximately $5,196,000.

Several other institutional investors also recently made changes to their positions in ABT. Cape Investment Advisory Inc. raised its stake in shares of 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 worth $140,000 after buying an additional 76 shares during the last quarter. Capital Square LLC grew its holdings in Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after acquiring an additional 77 shares during the period. Cyrus J. Lawrence LLC raised its position in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after acquiring an additional 79 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in shares of Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock valued at $320,000 after purchasing an additional 80 shares during the period. Finally, LMG Wealth Partners LLC grew its stake in shares of Abbott Laboratories by 3.8% during the fourth 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. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Royal Bank of Canada raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Citigroup increased their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus boosted their price target 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, Raymond James raised their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Stock Down 0.1%

Shares of ABT stock traded down $0.19 during trading on Monday, reaching $131.31. The company's stock had a trading volume of 6,144,711 shares, compared to its average volume of 6,142,655. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The business has a fifty day moving average price of $129.87 and a 200-day moving average price of $124.74. The company has a market cap of $228.46 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company's stock, valued at $10,277,222.77. This represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 transaction, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,278 shares of company stock worth $12,745,859. Corporate insiders own 0.46% of the company's stock.

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.