7,105 Abbott Laboratories $ABT Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,625 shares of the healthcare product maker’s stock after acquiring an additional 7,105 shares during the period. Kestra Private Wealth Services LLC’s holdings in Abbott Laboratories were worth $12,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Guardian Wealth Management Inc. raised its position in Abbott Laboratories by 0.4% in the 3rd quarter. Guardian Wealth Management Inc. now owns 26,213 shares of the healthcare product maker’s stock valued at $2,591,000 after buying an additional 117 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Abbott Laboratories by 3.1% in the 3rd quarter. Boston Trust Walden Corp now owns 71,876 shares of the healthcare product maker’s stock valued at $7,104,000 after acquiring an additional 2,154 shares in the last quarter. Northeast Investment Management lifted its stake in Abbott Laboratories by 4.0% in the 3rd quarter. Northeast Investment Management now owns 84,544 shares of the healthcare product maker’s stock valued at $8,355,000 after acquiring an additional 3,224 shares in the last quarter. Richardson Financial Services Inc. boosted its position in Abbott Laboratories by 1,459.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 4,289 shares of the healthcare product maker’s stock worth $424,000 after acquiring an additional 4,014 shares during the last quarter. Finally, Ascent Group LLC boosted its position in Abbott Laboratories by 10.3% during the 3rd quarter. Ascent Group LLC now owns 36,042 shares of the healthcare product maker’s stock worth $3,562,000 after acquiring an additional 3,380 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $115.58 on Thursday. The stock has a 50 day moving average price of $104.08 and a 200 day moving average price of $101.87. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $132.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The stock has a market capitalization of $199.99 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. Analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.2%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 94.03%.

Analyst Ratings Changes

ABT has been the topic of a number of recent research reports. Barclays began coverage on shares of Abbott Laboratories in a report on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 price objective on the stock. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 13th. Citigroup reduced their target price on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Rothschild & Co Redburn raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and raised their target price for the company from $119.00 to $127.00 in a research report on Friday, October 2nd. Finally, Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.32.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.