Abbott Laboratories (NYSE:ABT) Shares Sold by KBC Group NV

KBC Group NV cut its stake in Abbott Laboratories (NYSE:ABT) by 35.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 962,612 shares of the healthcare product maker’s stock after selling 535,135 shares during the quarter. KBC Group NV’s holdings in Abbott Laboratories were worth $108,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth $32,000. Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $37,000. Finally, JDM Financial Group LLC grew its holdings in Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.5 %

NYSE ABT opened at $125.12 on Monday. The company has a 50-day moving average of $115.26 and a 200-day moving average of $113.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $125.67. The company has a market cap of $217.01 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.19 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABT shares. Raymond James reissued a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

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.