KCM Investment Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.1% during the 4th quarter, HoldingsChannel reports. The firm owned 193,700 shares of the healthcare product maker’s stock after selling 155 shares during the period. KCM Investment Advisors LLC’s holdings in Abbott Laboratories were worth $16,825,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in ABT. MV Capital Management Inc. raised its position in Abbott Laboratories by 7.3% during the 3rd quarter. MV Capital Management Inc. now owns 7,888 shares of the healthcare product maker’s stock worth $660,000 after buying an additional 537 shares during the last quarter. Headinvest LLC lifted its stake in shares of Abbott Laboratories by 9.7% in the 3rd quarter. Headinvest LLC now owns 12,918 shares of the healthcare product maker’s stock worth $1,081,000 after acquiring an additional 1,142 shares during the period. SWS Partners purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $2,718,000. Vestor Capital LLC boosted its holdings in shares of Abbott Laboratories by 3.6% in the third quarter. Vestor Capital LLC now owns 185,232 shares of the healthcare product maker’s stock valued at $15,498,000 after acquiring an additional 6,396 shares in the last quarter. Finally, J.P. Marvel Investment Advisors LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth about $5,918,000. Institutional investors own 75.02% of the company’s stock.
In related news, EVP Andrea F. Wainer sold 1,120 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $88.61, for a total value of $99,243.20. Following the completion of the transaction, the executive vice president now owns 40,140 shares of the company’s stock, valued at approximately $3,556,805.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian B. Yoor sold 509,850 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $89.73, for a total transaction of $45,748,840.50. Following the completion of the transaction, the chief financial officer now directly owns 155,610 shares of the company’s stock, valued at approximately $13,962,885.30. The disclosure for this sale can be found here. Insiders have sold a total of 568,733 shares of company stock valued at $50,878,762 over the last 90 days. Insiders own 1.70% of the company’s stock.
ABT has been the subject of several analyst reports. UBS Group increased their price target on shares of Abbott Laboratories from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Co raised their price objective on shares of Abbott Laboratories from $97.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Abbott Laboratories from to in a report on Thursday, January 23rd. Credit Suisse Group decreased their price objective on shares of Abbott Laboratories from $104.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Finally, Citigroup started coverage on shares of Abbott Laboratories in a research report on Wednesday, March 4th. They set a “buy” rating and a $96.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $96.13.
NYSE:ABT traded up $3.82 during mid-day trading on Thursday, hitting $74.57. 2,291,057 shares of the company’s stock traded hands, compared to its average volume of 12,224,732. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.44. The firm’s 50 day simple moving average is $81.95 and its 200 day simple moving average is $84.07. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $92.45. The company has a market cap of $122.89 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.26 billion. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.39%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, research analysts expect that Abbott Laboratories will post 3.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
Further Reading: The Role of a Fiduciary and Individual Investors
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