KDI Capital Partners LLC Buys 346 Shares of Abbott Laboratories (ABT)
KDI Capital Partners LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,247 shares of the healthcare product maker’s stock after acquiring an additional 346 shares during the period. Abbott Laboratories accounts for approximately 3.6% of KDI Capital Partners LLC’s investment portfolio, making the stock its 7th biggest holding. KDI Capital Partners LLC’s holdings in Abbott Laboratories were worth $10,512,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Windsor Financial Group LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $208,000. First Personal Financial Services grew its holdings in Abbott Laboratories by 45.2% during the 2nd quarter. First Personal Financial Services now owns 19,237 shares of the healthcare product maker’s stock worth $935,000 after acquiring an additional 5,985 shares during the period. Cornerstone Capital Inc. grew its holdings in Abbott Laboratories by 2.7% during the 2nd quarter. Cornerstone Capital Inc. now owns 301,654 shares of the healthcare product maker’s stock worth $14,663,000 after acquiring an additional 7,915 shares during the period. Bridgewater Wealth & Financial Management LLC grew its holdings in Abbott Laboratories by 13.0% during the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 137,724 shares of the healthcare product maker’s stock worth $6,695,000 after acquiring an additional 15,807 shares during the period. Finally, Hartland & Co. LLC grew its holdings in Abbott Laboratories by 3.1% during the 2nd quarter. Hartland & Co. LLC now owns 91,859 shares of the healthcare product maker’s stock worth $4,465,000 after acquiring an additional 2,795 shares during the period. Hedge funds and other institutional investors own 71.35% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday. Barclays PLC reiterated an “overweight” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Citigroup Inc reiterated a “neutral” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. BMO Capital Markets reiterated a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Finally, Cowen and Company set a $68.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $56.81.
Abbott Laboratories (NYSE:ABT) opened at $55.47 on Friday. The company has a market cap of $94.64 billion, a PE ratio of 22.56, a PEG ratio of 2.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.94 and a quick ratio of 2.41.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The company’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. equities research analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 83.47%.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold a total of 408,313 shares of company stock valued at $21,205,356 in the last quarter. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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