Abbott Laboratories (NYSE:ABT) Stock Holdings Decreased by Kesler Norman & Wride LLC

by · The Markets Daily

Kesler Norman & Wride LLC reduced its position in Abbott Laboratories (NYSE:ABT – Free Report) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,508 shares of the healthcare product maker’s stock after selling 302 shares during the period. Abbott Laboratories comprises approximately 1.3% of Kesler Norman & Wride LLC’s holdings, making the stock its 26th largest position. Kesler Norman & Wride LLC’s holdings in Abbott Laboratories were worth $6,195,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC grew its position in Abbott Laboratories by 1,121.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 48,663 shares of the healthcare product maker’s stock valued at $4,713,000 after purchasing an additional 44,679 shares in the last quarter. AXQ Capital LP purchased a new position in Abbott Laboratories during the third quarter valued at approximately $484,000. LaSalle St. Investment Advisors LLC purchased a new position in Abbott Laboratories during the third quarter valued at approximately $262,000. Kingfisher Capital LLC grew its position in Abbott Laboratories by 0.7% during the third quarter. Kingfisher Capital LLC now owns 66,097 shares of the healthcare product maker’s stock valued at $6,402,000 after purchasing an additional 473 shares in the last quarter. Finally, KPP Advisory Services LLC purchased a new position in Abbott Laboratories during the third quarter valued at approximately $645,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABT. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI reduced their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday. Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Citigroup reduced their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.18.

Read Our Latest Report on ABT

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded down $0.87 on Thursday, reaching $102.33. The stock had a trading volume of 2,017,846 shares, compared to its average volume of 5,739,068. The business’s 50-day moving average price is $104.54 and its two-hundred day moving average price is $110.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock has a market cap of $178.02 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. On average, sell-side analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Activity at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

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.

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