KWB Wealth Has $417,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

KWB Wealth trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,670 shares of the healthcare product maker’s stock after selling 331 shares during the quarter. KWB Wealth’s holdings in Abbott Laboratories were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ABT. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth approximately $30,000. Finally, True Wealth Design LLC lifted its stake in shares of Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.8 %

Shares of NYSE ABT traded down $0.87 during midday trading on Thursday, hitting $102.33. 2,017,846 shares of the stock traded hands, compared to its average volume of 5,739,068. The company has a market cap of $178.02 billion, a PE ratio of 31.88, a P/E/G ratio of 2.48 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The business has a 50 day moving average price of $104.54 and a two-hundred day moving average price of $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 (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value 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 disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ABT shares. Barclays cut their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Citigroup cut their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI cut their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eight 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 price target of $120.18.

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.