BKM Wealth Management LLC Has $2.19 Million Stake in Abbott Laboratories (NYSE:ABT)

BKM Wealth Management LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,395 shares of the healthcare product maker’s stock after selling 448 shares during the quarter. Abbott Laboratories comprises about 0.9% of BKM Wealth Management LLC’s holdings, making the stock its 29th largest position. BKM Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $133,000. Atria Wealth Solutions Inc. increased its stake in Abbott Laboratories by 3.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 77,402 shares of the healthcare product maker’s stock worth $8,755,000 after acquiring an additional 2,259 shares during the last quarter. GAM Holding AG purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $1,223,000. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Abbott Laboratories by 2.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 392,611 shares of the healthcare product maker’s stock worth $44,408,000 after acquiring an additional 9,314 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Abbott Laboratories by 12.0% during the 4th quarter. Venturi Wealth Management LLC now owns 36,292 shares of the healthcare product maker’s stock valued at $4,105,000 after purchasing an additional 3,888 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.9 %

ABT opened at $130.63 on Tuesday. The company’s 50 day simple moving average is $118.97 and its two-hundred day simple moving average is $116.14. The firm 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 company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.65.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Evercore ISI lifted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Stifel Nicolaus lifted their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average 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.