KCM Investment Advisors LLC Trims Holdings in Abbott Laboratories (NYSE:ABT)
KCM Investment Advisors LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. MV Capital Management Inc. boosted its holdings in Abbott Laboratories by 7.3% in the 3rd quarter. MV Capital Management Inc. now owns 7,888 shares of the healthcare product maker’s stock valued at $660,000 after purchasing an additional 537 shares during the last quarter. Headinvest LLC raised its position in shares of Abbott Laboratories by 9.7% during the 3rd quarter. Headinvest LLC now owns 12,918 shares of the healthcare product maker’s stock valued at $1,081,000 after buying an additional 1,142 shares during the period. SWS Partners acquired a new position in Abbott Laboratories in the third quarter valued at approximately $2,718,000. Vestor Capital LLC lifted its holdings in 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 during the last quarter. Finally, J.P. Marvel Investment Advisors LLC purchased a new position in Abbott Laboratories in the third quarter worth approximately $5,918,000. 75.02% of the stock is currently owned by institutional investors.
NYSE ABT traded up $3.82 during trading on Thursday, hitting $74.57. The stock had a trading volume of 2,291,057 shares, compared to its average volume of 12,224,732. The company has a market capitalization of $122.89 billion, a PE ratio of 36.20, a PEG ratio of 1.83 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average price of $81.95 and a 200 day moving average price of $84.07. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $92.45.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, April 14th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.08. This represents a $1.44 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is 44.44%.
In other Abbott Laboratories news, SVP Jared Watkin sold 8,248 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $82.00, for a total value of $676,336.00. Following the sale, the senior vice president now owns 68,696 shares of the company’s stock, valued at approximately $5,633,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph J. Manning sold 37,500 shares of Abbott Laboratories stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $89.58, for a total value of $3,359,250.00. Following the completion of the transaction, the senior vice president now owns 88,032 shares of the company’s stock, valued at approximately $7,885,906.56. The disclosure for this sale can be found here. Insiders sold a total of 568,733 shares of company stock valued at $50,878,762 in the last three months. 1.70% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on Abbott Laboratories from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI lowered shares of Abbott Laboratories from an “outperform” rating to an “in-line” rating in a report on Thursday, January 2nd. UBS Group upped their target price on shares of Abbott Laboratories from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Raymond James increased their target price on shares of Abbott Laboratories from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $96.13.
Abbott Laboratories Company 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.
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