KCM Investment Advisors LLC Sells 1,928 Shares of Abbott Laboratories (NYSE:ABT)

KCM Investment Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 144,381 shares of the healthcare product maker’s stock after selling 1,928 shares during the period. KCM Investment Advisors LLC’s holdings in Abbott Laboratories were worth $16,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Entropy Technologies LP acquired a new position in Abbott Laboratories in the 1st quarter valued at $806,000. Mizuho Markets Americas LLC raised its holdings in shares of Abbott Laboratories by 93.5% during the 1st quarter. Mizuho Markets Americas LLC now owns 92,299 shares of the healthcare product maker’s stock worth $10,491,000 after buying an additional 44,593 shares in the last quarter. Pinkerton Retirement Specialists LLC raised its holdings in shares of Abbott Laboratories by 25.8% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 30,182 shares of the healthcare product maker’s stock worth $3,430,000 after buying an additional 6,194 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Abbott Laboratories by 2.0% during the 1st quarter. Nicolet Advisory Services LLC now owns 30,153 shares of the healthcare product maker’s stock worth $3,390,000 after buying an additional 583 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Abbott Laboratories by 84.5% during the 1st quarter. Intech Investment Management LLC now owns 32,123 shares of the healthcare product maker’s stock worth $3,651,000 after buying an additional 14,715 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.3 %

Shares of Abbott Laboratories stock traded down $0.30 on Friday, hitting $114.73. 959,333 shares of the company’s stock traded hands, compared to its average volume of 5,674,881. The company has a fifty day moving average of $115.49 and a two-hundred day moving average of $109.43. Abbott Laboratories has a one year low of $97.64 and a one year high of $121.64. 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 company has a market capitalization of $198.99 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABT shares. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Company 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.