Kestra Private Wealth Services LLC Sells 6,182 Shares of Abbott Laboratories (NYSE:ABT)

Kestra Private Wealth Services LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,172 shares of the healthcare product maker’s stock after selling 6,182 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Abbott Laboratories were worth $10,199,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Perfromance Wealth Partners LLC bought a new stake in Abbott Laboratories during the third quarter worth $298,000. Silverlake Wealth Management LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth $219,000. Annex Advisory Services LLC boosted its stake in Abbott Laboratories by 4.9% in the third quarter. Annex Advisory Services LLC now owns 69,851 shares of the healthcare product maker’s stock valued at $7,964,000 after buying an additional 3,268 shares in the last quarter. Retirement Planning Group LLC grew its position in Abbott Laboratories by 18.7% in the third quarter. Retirement Planning Group LLC now owns 3,137 shares of the healthcare product maker’s stock valued at $358,000 after acquiring an additional 494 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Abbott Laboratories by 13.2% in the third quarter. Exchange Traded Concepts LLC now owns 16,975 shares of the healthcare product maker’s stock worth $1,935,000 after acquiring an additional 1,985 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABT. StockNews.com upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Wells Fargo & Company increased their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein upped their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $129.11 on Monday. The company has a market cap of $223.93 billion, a P/E ratio of 16.88, a PEG ratio of 2.39 and a beta of 0.75. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $117.46 and a two-hundred day moving average price of $115.18. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.50.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. As a group, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 30.85%.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.