Abbott Laboratories (NYSE:ABT) Shares Bought by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,117 shares of the healthcare product maker’s stock after buying an additional 110 shares during the period. Pinnacle Bancorp Inc.’s holdings in Abbott Laboratories were worth $692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the third quarter worth $32,000. Valued Wealth Advisors LLC lifted its stake in 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 last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the second quarter valued at $32,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories during the third quarter worth about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Trading Down 1.8 %

Shares of NYSE:ABT opened at $110.96 on Thursday. The stock has a market capitalization of $192.46 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The company has a 50 day moving average price of $115.14 and a 200 day moving average price of $112.67. 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 announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 4.67 EPS 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. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 2.13%. Abbott Laboratories’s dividend payout ratio is currently 71.73%.

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.