Lmcg Investments LLC Boosts Position in Abbott Laboratories (NYSE:ABT)

Lmcg Investments LLC lifted its position in Abbott Laboratories (NYSE:ABTFree Report) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,847 shares of the healthcare product maker’s stock after buying an additional 20,070 shares during the quarter. Abbott Laboratories makes up approximately 1.0% of Lmcg Investments LLC’s portfolio, making the stock its 17th biggest holding. Lmcg Investments LLC’s holdings in Abbott Laboratories were worth $16,494,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABT. Bank of Stockton lifted its position in Abbott Laboratories by 4.3% during the third quarter. Bank of Stockton now owns 21,095 shares of the healthcare product maker’s stock valued at $1,983,000 after purchasing an additional 876 shares during the last quarter. Leisure Capital Management increased its stake in Abbott Laboratories by 2.2% in the third quarter. Leisure Capital Management now owns 12,259 shares of the healthcare product maker’s stock valued at $1,187,000 after acquiring an additional 266 shares during the last quarter. Fifth Third Bancorp raised its position in Abbott Laboratories by 2.2% during the third quarter. Fifth Third Bancorp now owns 1,149,176 shares of the healthcare product maker’s stock valued at $111,298,000 after purchasing an additional 25,025 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new position in shares of Abbott Laboratories in the 3rd quarter worth about $318,000. Finally, Kornitzer Capital Management Inc. KS increased its position in shares of Abbott Laboratories by 31.9% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 396,851 shares of the healthcare product maker’s stock valued at $38,435,000 after purchasing an additional 96,052 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.5 %

Shares of ABT traded up $0.55 during mid-day trading on Wednesday, hitting $104.56. 5,438,127 shares of the company’s stock traded hands, compared to its average volume of 5,595,787. The business’s 50-day moving average price is $110.54 and its 200-day moving average price is $109.22. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm has a market capitalization of $181.90 billion, a P/E ratio of 32.53, a PEG ratio of 2.52 and a beta of 0.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABT shares. Citigroup upped their target price on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Check Out Our Latest Stock Analysis on ABT

Insider Activity at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders have sold 46,884 shares of company stock worth $5,153,916 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories 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.

Featured Stories

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.