Miracle Mile Advisors LLC Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Miracle Mile Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 6.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,122 shares of the healthcare product maker’s stock after acquiring an additional 2,293 shares during the period. Miracle Mile Advisors LLC’s holdings in Abbott Laboratories were worth $5,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. Tallon Kerry Patrick purchased a new position in Abbott Laboratories in the fourth quarter worth $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 boosted its holdings in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Abbott Laboratories during the fourth quarter worth about $29,120,000. Finally, Consolidated Portfolio Review Corp grew its position in Abbott Laboratories by 8.0% during the fourth quarter. Consolidated Portfolio Review Corp now owns 2,666 shares of the healthcare product maker’s stock worth $302,000 after buying an additional 197 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ABT shares. Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Citigroup upped their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Barclays increased 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. Finally, Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.59.

Abbott Laboratories Stock Down 0.2%

Shares of NYSE ABT opened at $133.61 on Monday. The firm has a market cap of $232.45 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm’s 50 day moving average price is $130.74 and its 200 day moving average price is $125.90.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on 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 owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.