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

KFG Wealth Management LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 23.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its stake in Abbott Laboratories by 78.4% during the 3rd 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 purchased a new stake in shares of Abbott Laboratories in the third quarter valued at $37,000. Finally, JDM Financial Group LLC boosted its position in shares of Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after buying an additional 123 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $125.12 on Friday. The business’s 50-day simple moving average is $115.26 and its 200-day simple moving average is $113.31. 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 $125.67. The firm has a market cap of $217.01 billion, a price-to-earnings 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 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11,029,400 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

About Abbott Laboratories

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.