Abbott Laboratories (ABT) Shares Bought by BerganKDV Wealth Management LLC
BerganKDV Wealth Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 64.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,438 shares of the healthcare product maker’s stock after acquiring an additional 3,302 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Abbott Laboratories were worth $482,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at about $102,000. Heritage Trust Co increased its holdings in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories in the third quarter valued at about $106,000. Thompson Davis & CO. Inc. increased its holdings in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares during the period. Finally, Motco increased its holdings in shares of Abbott Laboratories by 213.7% in the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after purchasing an additional 1,962 shares during the period. Institutional investors own 70.61% of the company’s stock.
A number of research analysts have recently weighed in on the company. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Wells Fargo & Co increased their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Leerink Swann reissued a “market perform” rating on shares of Abbott Laboratories in a report on Friday, January 19th. Bank of America increased their price objective on Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $65.47.
Shares of Abbott Laboratories (NYSE ABT) opened at $57.64 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The company has a market capitalization of $100,330.00, a P/E ratio of 288.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55.
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, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the company earned $0.65 earnings per share. Abbott Laboratories’s quarterly revenue was up 42.3% compared to the same quarter last year. equities research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.28 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 560.00%.
Abbott Laboratories 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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