MOKAN Wealth Management Inc. Takes $2.36 Million Position in Abbott Laboratories (NYSE:ABT)

MOKAN Wealth Management Inc. bought a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,859 shares of the healthcare product maker’s stock, valued at approximately $2,359,000. Abbott Laboratories makes up about 1.5% of MOKAN Wealth Management Inc.’s portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $34,000. Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories during the 3rd quarter valued at approximately $37,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.9 %

Abbott Laboratories stock opened at $130.63 on Friday. 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 has a 52 week low of $99.71 and a 52 week high of $132.65. The company has a market capitalization of $226.56 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The stock has a 50-day moving average price of $118.97 and a 200 day moving average price of $116.00.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th were issued a $0.59 dividend. The ex-dividend date was Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.06.

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.