Kestra Private Wealth Services LLC Grows Stake in Abbott Laboratories (NYSE:ABT)

Kestra Private Wealth Services LLC raised its position in Abbott Laboratories (NYSE:ABT) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 102,339 shares of the healthcare product maker’s stock after purchasing an additional 687 shares during the period. Kestra Private Wealth Services LLC’s holdings in Abbott Laboratories were worth $11,264,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $37,000. Stuart Chaussee & Associates Inc. raised its holdings in shares of Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Abbott Laboratories in the third quarter valued at $40,000. Cornerstone Planning Group LLC boosted its stake in shares of Abbott Laboratories by 79.4% during the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after acquiring an additional 201 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in Abbott Laboratories during the 3rd quarter worth about $46,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABT shares. Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Finally, Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Trading Down 0.2 %

Shares of NYSE ABT traded down $0.24 during midday trading on Monday, hitting $107.29. The stock had a trading volume of 3,306,015 shares, compared to its average volume of 5,632,260. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a market capitalization of $186.17 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.59 and a beta of 0.74. The company has a fifty day moving average price of $113.50 and a 200 day moving average price of $108.34.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Abbott Laboratories’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Activity

In related news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,935 shares of company stock worth $1,670,048. 0.47% of the stock is currently owned by corporate insiders.

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.