DMC Group LLC Sells 645 Shares of Abbott Laboratories (NYSE:ABT)

DMC Group LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,408 shares of the healthcare product maker’s stock after selling 645 shares during the quarter. DMC Group LLC’s holdings in Abbott Laboratories were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised 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 in the last quarter. Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $37,000. Finally, JDM Financial Group LLC grew its holdings 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 valued at $41,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Barclays reissued an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Check Out Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $127.86 on Thursday. The firm’s 50 day simple moving average is $115.71 and its 200-day simple moving average is $113.80. 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 one year low of $99.71 and a one year high of $129.85. The firm has a market cap of $221.77 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the company posted $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.

Read More

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.