Kathmere Capital Management LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 17.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,473 shares of the healthcare product maker’s stock after acquiring an additional 372 shares during the quarter. Kathmere Capital Management LLC’s holdings in Abbott Laboratories were worth $292,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. 4Thought Financial Group Inc. bought a new position in shares of Abbott Laboratories during the second quarter worth $25,000. Sierra Capital LLC bought a new position in shares of Abbott Laboratories during the first quarter worth $30,000. Holloway Wealth Management LLC boosted its position in shares of Abbott Laboratories by 150.0% during the second quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. CKW Financial Group bought a new position in shares of Abbott Laboratories during the second quarter worth $36,000. Finally, Isthmus Partners LLC bought a new position in shares of Abbott Laboratories during the second quarter worth $36,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.
A number of analysts have recently weighed in on ABT shares. Raymond James boosted their target price on shares of Abbott Laboratories from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Morgan Stanley boosted their price objective on Abbott Laboratories from $136.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 21st. Cowen reissued a “buy” rating and set a $140.00 price objective on shares of Abbott Laboratories in a research note on Friday, October 8th. Atlantic Securities raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $144.00 price objective on the stock in a research note on Wednesday, October 27th. Finally, Citigroup boosted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, October 1st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $134.94.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Tuesday, October 19th. The healthcare product maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.46. The firm had revenue of $10.93 billion for the quarter, compared to analysts’ expectations of $9.56 billion. Abbott Laboratories had a return on equity of 28.39% and a net margin of 17.12%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Research analysts predict that Abbott Laboratories will post 5.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Friday, October 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. Abbott Laboratories’s payout ratio is 44.67%.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 6,350 shares of the company’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $129.00, for a total transaction of $819,150.00. Following the completion of the sale, the senior vice president now owns 50,093 shares in the company, valued at $6,461,997. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 9,500 shares of the company’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $127.50, for a total value of $1,211,250.00. The disclosure for this sale can be found here. Insiders sold 182,783 shares of company stock valued at $23,066,012 in the last quarter. 1.50% of the stock is owned by company insiders.
About Abbott Laboratories
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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