Premier Path Wealth Partners LLC Buys 564 Shares of Abbott Laboratories (NYSE:ABT)

Premier Path Wealth Partners LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 8.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,204 shares of the healthcare product maker’s stock after purchasing an additional 564 shares during the period. Premier Path Wealth Partners LLC’s holdings in Abbott Laboratories were worth $815,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Bath Savings Trust Co raised its stake in shares of Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after purchasing an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. lifted its stake in Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares in the last quarter. Pensionfund Sabic bought a new stake in shares of Abbott Laboratories in the 4th quarter worth $2,828,000. Dundas Partners LLP raised its holdings in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after purchasing an additional 31,720 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABT shares. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI upped their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Raymond James restated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. UBS Group increased their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Trading Down 0.4 %

ABT stock opened at $113.45 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a market capitalization of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company’s 50 day moving average price is $114.93 and its two-hundred day moving average price is $112.73. 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 earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

Abbott Laboratories Company 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.