Kathmere Capital Management LLC Raises Position in Abbott Laboratories (NYSE:ABT)

Kathmere Capital Management LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,103 shares of the healthcare product maker’s stock after buying an additional 375 shares during the period. Kathmere Capital Management LLC’s holdings in Abbott Laboratories were worth $464,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories in the 2nd quarter worth approximately $264,876,000. State Street Corp grew its position in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after buying an additional 2,323,807 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after buying an additional 1,667,170 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Abbott Laboratories by 13.7% in the third quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after acquiring an additional 1,180,040 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Down 1.8 %

NYSE ABT opened at $110.96 on Thursday. The company has a fifty day moving average of $115.14 and a two-hundred day moving average of $112.67. The firm has a market capitalization of $192.46 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.69 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. On average, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current 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. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.13%. Abbott Laboratories’s dividend payout ratio (DPR) is 71.73%.

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.