Klein Pavlis & Peasley Financial Inc. Acquires 5,300 Shares of Abbott Laboratories $ABT

Klein Pavlis & Peasley Financial Inc. boosted its stake in Abbott Laboratories (NYSE:ABT) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,300 shares of the healthcare product maker’s stock after acquiring an additional 5,300 shares during the period. Abbott Laboratories accounts for approximately 1.8% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 17th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Abbott Laboratories were worth $2,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. increased its position in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares during the period. Anfield Capital Management LLC boosted its position in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Curio Wealth LLC raised its position in shares of Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares in the last quarter. Finally, Pineridge Advisors LLC lifted its stake in shares of Abbott Laboratories by 34.6% in the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after purchasing an additional 81 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $121.82 on Friday. The firm has a market cap of $211.83 billion, a P/E ratio of 15.27, a PEG ratio of 2.05 and a beta of 0.72. Abbott Laboratories has a twelve month low of $113.39 and a twelve month high of $141.23. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $126.01 and a 200 day moving average of $129.00.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter last year, the company earned $1.21 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.1%. Abbott Laboratories’s dividend payout ratio is presently 31.58%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABT shares. Jefferies Financial Group increased their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Thursday, November 20th. Barclays boosted their price objective on shares of Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Sanford C. Bernstein raised their target price on shares of Abbott Laboratories from $150.00 to $154.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $147.42.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.