MFG Wealth Management Inc. Takes Position in Abbott Laboratories (NYSE:ABT)

MFG Wealth Management Inc. bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 18,165 shares of the healthcare product maker’s stock, valued at approximately $2,055,000. Abbott Laboratories makes up approximately 1.9% of MFG Wealth Management Inc.’s portfolio, making the stock its 27th largest position.

Several other large investors also recently modified their holdings of the business. Groupama Asset Managment grew its position in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% in the third 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 during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $34,000. Finally, Highline Wealth Partners LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at $37,000. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction 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 owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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. Barclays reiterated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Trading Down 0.7 %

Abbott Laboratories stock opened at $130.48 on Thursday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50. The stock has a market capitalization of $226.31 billion, a P/E ratio of 17.06, a PEG ratio of 2.39 and a beta of 0.75. The stock has a 50-day simple moving average of $118.05 and a 200 day simple moving average of $115.60. 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 (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. Analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.81%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.