KRS Capital Management LLC Has $959,000 Stock Position in Abbott Laboratories (NYSE:ABT)

KRS Capital Management LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,439 shares of the healthcare product maker’s stock after selling 683 shares during the quarter. Abbott Laboratories makes up approximately 0.8% of KRS Capital Management LLC’s investment portfolio, making the stock its 27th largest position. KRS Capital Management LLC’s holdings in Abbott Laboratories were worth $959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. True Wealth Design LLC boosted 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 valued at $35,000 after buying an additional 302 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $103.94 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $180.82 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The firm’s fifty day simple moving average is $104.79 and its two-hundred day simple moving average is $110.08. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for 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%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABT. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays cut their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Citigroup cut their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Insider Transactions at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’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 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. Insiders own 1.10% of the company’s stock.

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.