Abbott Laboratories $ABT Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 14.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 301,813 shares of the healthcare product maker’s stock after acquiring an additional 39,095 shares during the quarter. Kestra Advisory Services LLC’s holdings in Abbott Laboratories were worth $29,828,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Abbott Laboratories by 4.6% during the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after acquiring an additional 6,769,518 shares in the last quarter. State Street Corp raised its position in shares of Abbott Laboratories by 1.7% in the 2nd quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after acquiring an additional 1,350,766 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Abbott Laboratories in the 2nd quarter worth $1,603,607,000. Deutsche Bank AG raised its position in shares of Abbott Laboratories by 18.6% in the 2nd quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock worth $1,515,963,000 after acquiring an additional 2,614,965 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth $1,082,524,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the sale, the executive vice president directly owned 100,791 shares in the company, valued at approximately $11,691,756. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $110.02 on Friday. The firm’s fifty day simple moving average is $104.04 and its two-hundred day simple moving average is $101.78. The firm has a market capitalization of $190.38 billion, a P/E ratio of 41.05, a P/E/G ratio of 1.93 and a beta of 0.54. The company has a current ratio of 1.45, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting the consensus estimate of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 94.03%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. Citigroup dropped their price objective on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. Wall Street Zen upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. UBS Group decreased their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Finally, BTIG Research lowered their price target on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned 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 price target of $118.32.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.