Lmcg Investments LLC Sells 9,515 Shares of Abbott Laboratories (NYSE:ABT)

Lmcg Investments LLC lessened its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,115 shares of the healthcare product maker’s stock after selling 9,515 shares during the period. Abbott Laboratories comprises 1.1% of Lmcg Investments LLC’s holdings, making the stock its 20th largest position. Lmcg Investments LLC’s holdings in Abbott Laboratories were worth $18,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Groupama Asset Managment lifted its position in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $32,000. Finally, Valued Wealth Advisors LLC increased 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 acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $113.45 on Tuesday. The business has a 50 day moving average price of $114.93 and a 200-day moving average price of $112.87. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market cap of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories Increases Dividend

The company also recently disclosed 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 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. 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 report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. UBS Group lifted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Read Our Latest Report on ABT

Abbott Laboratories Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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