Kavar Capital Partners Group LLC Sells 600 Shares of Abbott Laboratories (NYSE:ABT)

Kavar Capital Partners Group LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 41,157 shares of the healthcare product maker’s stock after selling 600 shares during the period. Kavar Capital Partners Group LLC’s holdings in Abbott Laboratories were worth $5,460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pure Financial Advisors LLC raised its position in shares of Abbott Laboratories by 27.3% during the 1st quarter. Pure Financial Advisors LLC now owns 8,883 shares of the healthcare product maker’s stock valued at $1,178,000 after purchasing an additional 1,904 shares during the period. New World Advisors LLC raised its holdings in Abbott Laboratories by 16.0% during the first quarter. New World Advisors LLC now owns 5,263 shares of the healthcare product maker’s stock valued at $698,000 after acquiring an additional 727 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Abbott Laboratories in the first quarter worth about $2,049,000. Golden State Wealth Management LLC grew its position in shares of Abbott Laboratories by 151.1% during the first quarter. Golden State Wealth Management LLC now owns 5,640 shares of the healthcare product maker’s stock worth $748,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Aurora Private Wealth Inc. bought a new stake in Abbott Laboratories during the 1st quarter valued at approximately $10,511,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $137.46 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The firm has a market capitalization of $239.16 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company’s 50-day moving average is $132.69 and its 200 day moving average is $127.30.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm 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%. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 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 1.72%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABT shares. Raymond James Financial increased their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Morgan Stanley lifted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Finally, Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.61.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.