Bond & Devick Financial Network Inc. Makes New $205,000 Investment in Abbott Laboratories (NYSE:ABT)

Bond & Devick Financial Network Inc. acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,544 shares of the healthcare product maker’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter worth about $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories during the 4th quarter worth about $26,000. NewSquare Capital LLC increased its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABT. Raymond James upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Bank of America upped their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Citigroup upped their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Jefferies Financial Group increased their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Trading Up 0.6%

NYSE:ABT opened at $133.68 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $130.46 and a two-hundred day moving average price of $125.24. The company has a market cap of $232.58 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock valued at $12,745,859 in the last quarter. 0.46% of the stock is currently owned by insiders.

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.