Kathmere Capital Management LLC Buys 471 Shares of Abbott Laboratories (NYSE:ABT)

Kathmere Capital Management LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 11.5% in the 1st quarter, HoldingsChannel reports. The fund owned 4,574 shares of the healthcare product maker’s stock after purchasing an additional 471 shares during the quarter. Kathmere Capital Management LLC’s holdings in Abbott Laboratories were worth $607,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after acquiring an additional 739,260 shares in the last quarter. Capital International Investors increased its position in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after buying an additional 2,229,026 shares in the last quarter. Capital Research Global Investors increased its position in Abbott Laboratories by 1.5% during the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock valued at $6,118,903,000 after buying an additional 795,073 shares in the last quarter. Geode Capital Management LLC increased its position in Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock valued at $4,023,027,000 after buying an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock valued at $2,985,233,000 after buying an additional 581,325 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director owned 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of several recent analyst reports. Royal Bank Of Canada upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Evercore ISI upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.11.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $131.95 on Friday. The company has a market capitalization of $229.56 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.51 and a beta of 0.73. The business’s 50 day moving average is $133.52 and its two-hundred day moving average is $129.07. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

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.