KFG Wealth Management LLC Has $303,000 Stock Position in Abbott Laboratories (NYSE:ABT)

KFG Wealth Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 23.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,676 shares of the healthcare product maker’s stock after selling 805 shares during the quarter. KFG Wealth Management LLC’s holdings in Abbott Laboratories were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment lifted its stake in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% during 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 in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Raymond James reissued a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $125.12 on Friday. The firm has a 50 day simple moving average of $115.26 and a 200 day simple moving average of $113.31. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $125.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm 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 issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared 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 boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is currently 30.85%.

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.