KMG Fiduciary Partners LLC Sells 363 Shares of Abbott Laboratories (NYSE:ABT)

KMG Fiduciary Partners LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 15,721 shares of the healthcare product maker’s stock after selling 363 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Abbott Laboratories were worth $1,778,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ABT. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the 2nd quarter valued at about $32,000. Finally, Highline Wealth Partners LLC acquired a new position in Abbott Laboratories in the third quarter valued at about $37,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays raised their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $113.45 on Friday. The firm’s 50 day moving average price is $115.00 and its two-hundred day moving average price is $112.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The stock has a market cap of $196.78 billion, a PE ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

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.