Kathmere Capital Management LLC Has $448,000 Stake in Abbott Laboratories (NYSE:ABT)

Kathmere Capital Management LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 48.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,315 shares of the healthcare product maker’s stock after buying an additional 1,399 shares during the quarter. Kathmere Capital Management LLC’s holdings in Abbott Laboratories were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Texas Capital Bank Wealth Management Services Inc increased its position in Abbott Laboratories by 267.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,793 shares of the healthcare product maker’s stock valued at $706,000 after purchasing an additional 4,945 shares during the period. Sepio Capital LP boosted its stake in shares of Abbott Laboratories by 4.4% in the 2nd quarter. Sepio Capital LP now owns 211,699 shares of the healthcare product maker’s stock valued at $21,998,000 after purchasing an additional 8,892 shares during the last quarter. Security National Bank of SO Dak increased its position in shares of Abbott Laboratories by 1.1% during the second quarter. Security National Bank of SO Dak now owns 23,863 shares of the healthcare product maker’s stock worth $2,480,000 after buying an additional 250 shares during the period. Smith Thornton Advisors LLC bought a new position in Abbott Laboratories during the second quarter worth $404,000. Finally, Scientech Research LLC bought a new stake in Abbott Laboratories during the second quarter valued at $384,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock opened at $112.43 on Friday. The company has a market capitalization of $195.59 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The business has a 50-day simple moving average of $111.57 and a two-hundred day simple moving average of $108.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ABT shares. Piper Sandler began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research note on Thursday. Finally, Evercore ISI reduced their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

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.