Abbott Laboratories (NYSE:ABT) Shares Acquired by Kathmere Capital Management LLC

Kathmere Capital Management LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,473 shares of the healthcare product maker’s stock after buying an additional 372 shares during the quarter. Kathmere Capital Management LLC’s holdings in Abbott Laboratories were worth $292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 4Thought Financial Group Inc. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $25,000. Holloway Wealth Management LLC raised its stake in Abbott Laboratories by 150.0% in the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Sierra Capital LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $30,000. CKW Financial Group acquired a new position in Abbott Laboratories in the 2nd quarter valued at $36,000. Finally, Isthmus Partners LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth $36,000. 72.46% of the stock is owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, EVP Andrew H. Lane sold 135,925 shares of the stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $125.47, for a total value of $17,054,509.75. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $127.50, for a total transaction of $1,211,250.00. The disclosure for this sale can be found here. Insiders sold a total of 182,783 shares of company stock valued at $23,066,012 in the last quarter. Company insiders own 1.50% of the company’s stock.

Shares of NYSE ABT traded up $0.59 during mid-day trading on Thursday, reaching $125.07. 3,729,581 shares of the company’s stock were exchanged, compared to its average volume of 5,348,268. The company’s 50-day moving average is $123.74 and its 200-day moving average is $120.66. Abbott Laboratories has a 52-week low of $105.32 and a 52-week high of $131.60. The firm has a market capitalization of $221.16 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.42 and a current ratio of 1.83.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a return on equity of 28.39% and a net margin of 17.12%. The company had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $9.56 billion. During the same period last year, the business posted $0.98 EPS. Abbott Laboratories’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 5.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Friday, October 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.67%.

A number of analysts have issued reports on the company. Redburn Partners assumed coverage on Abbott Laboratories in a research note on Thursday, October 14th. They issued a “neutral” rating and a $132.28 target price for the company. Zacks Investment Research raised Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 target price for the company in a research note on Tuesday, August 3rd. Cowen reaffirmed a “buy” rating and issued a $140.00 target price on shares of Abbott Laboratories in a research note on Friday, October 8th. Citigroup raised their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, October 1st. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $140.00 target price (up from $128.00) on shares of Abbott Laboratories in a research note on Thursday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $134.94.

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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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