Kingsview Wealth Management LLC Has $9.06 Million Stake in Abbott Laboratories (NYSE:ABT)

Kingsview Wealth Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 80,095 shares of the healthcare product maker’s stock after acquiring an additional 2,028 shares during the period. Kingsview Wealth Management LLC’s holdings in Abbott Laboratories were worth $9,060,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Brookstone Capital Management raised its holdings in Abbott Laboratories by 2.4% in the 3rd quarter. Brookstone Capital Management now owns 42,762 shares of the healthcare product maker’s stock worth $4,875,000 after acquiring an additional 991 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter worth about $31,000. Marcum Wealth LLC lifted its position in shares of Abbott Laboratories by 7.7% during the 3rd quarter. Marcum Wealth LLC now owns 5,671 shares of the healthcare product maker’s stock worth $647,000 after purchasing an additional 407 shares during the last quarter. Wedmont Private Capital boosted its stake in Abbott Laboratories by 6.6% during the 3rd quarter. Wedmont Private Capital now owns 13,639 shares of the healthcare product maker’s stock valued at $1,546,000 after purchasing an additional 846 shares during the period. Finally, Patten Group Inc. grew its holdings in Abbott Laboratories by 5.7% in the 3rd quarter. Patten Group Inc. now owns 7,741 shares of the healthcare product maker’s stock valued at $883,000 after buying an additional 419 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

NYSE:ABT opened at $129.11 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $223.93 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $132.50. The company’s 50-day moving average price is $117.25 and its two-hundred day moving average price is $114.93.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the company earned $1.19 EPS. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays restated an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Finally, StockNews.com raised Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Company 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.