Kavar Capital Partners LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,142 shares of the healthcare product maker’s stock after purchasing an additional 750 shares during the quarter. Abbott Laboratories accounts for about 1.3% of Kavar Capital Partners LLC’s investment portfolio, making the stock its 24th largest holding. Kavar Capital Partners LLC’s holdings in Abbott Laboratories were worth $3,208,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Manchester Financial Inc. acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $30,000. Front Row Advisors LLC grew its position in Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after acquiring an additional 348 shares in the last quarter. Weaver Consulting Group acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $33,000. Beacon Capital Management Inc. acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $42,000. 73.42% of the stock is owned by hedge funds and other institutional investors.
ABT has been the subject of several recent research reports. BMO Capital Markets increased their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Morgan Stanley increased their target price on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group increased their target price on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Raymond James increased their target price on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $85.82.
In related news, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the transaction, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $86.39, for a total value of $1,987,661.12. Following the transaction, the senior vice president now directly owns 104,228 shares in the company, valued at $9,004,256.92. The disclosure for this sale can be found here. Insiders have sold 885,102 shares of company stock worth $71,110,429 over the last three months. Corporate insiders own 0.70% of the company’s stock.
ABT stock traded up $0.39 during mid-day trading on Thursday, reaching $84.33. The company had a trading volume of 134,705 shares, compared to its average volume of 5,327,106. The firm has a market capitalization of $149.58 billion, a PE ratio of 29.29, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a one year low of $63.07 and a one year high of $88.76. The business has a 50-day moving average price of $85.77.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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