Kingswood Wealth Advisors LLC Has $2.13 Million Holdings in Abbott Laboratories (NYSE:ABT)

Kingswood Wealth Advisors LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,701 shares of the healthcare product maker’s stock after selling 897 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,126,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after buying an additional 701,740 shares during the last quarter. Capital Research Global Investors lifted its position in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors boosted its holdings in Abbott Laboratories by 2.3% during the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after acquiring an additional 1,457,847 shares during the period. Wellington Management Group LLP increased its stake in shares of Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after purchasing an additional 1,027,390 shares during the period. Finally, Norges Bank bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $2,115,836,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated 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 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 accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. 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. Barclays decreased their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup reduced their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded down $0.62 during midday trading on Wednesday, reaching $104.87. 5,406,193 shares of the company traded hands, compared to its average volume of 5,699,324. The stock’s 50-day simple moving average is $104.89 and its 200-day simple moving average is $110.17. 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 12 month low of $89.67 and a 12 month high of $121.64. The firm has a market cap of $182.43 billion, a PE ratio of 32.67, a PEG ratio of 2.54 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

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.