DMC Group LLC Has $462,000 Stock Position in Abbott Laboratories (NYSE:ABT)

DMC Group LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,053 shares of the healthcare product maker’s stock after selling 414 shares during the quarter. DMC Group LLC’s holdings in Abbott Laboratories were worth $462,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABT. RFG Advisory LLC raised its holdings in Abbott Laboratories by 6.3% in the 1st quarter. RFG Advisory LLC now owns 13,246 shares of the healthcare product maker’s stock valued at $1,506,000 after buying an additional 782 shares during the last quarter. Royal Fund Management LLC bought a new position in shares of Abbott Laboratories during the first quarter valued at $202,000. Anderson Hoagland & Co. bought a new stake in shares of Abbott Laboratories in the first quarter worth $272,000. Steph & Co. increased its holdings in Abbott Laboratories by 5.0% in the first quarter. Steph & Co. now owns 4,591 shares of the healthcare product maker’s stock valued at $522,000 after purchasing an additional 219 shares during the period. Finally, Northwest Investment Counselors LLC raised its position in Abbott Laboratories by 0.6% during the 1st quarter. Northwest Investment Counselors LLC now owns 22,096 shares of the healthcare product maker’s stock worth $2,511,000 after purchasing an additional 142 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABT. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group raised their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Up 1.3 %

ABT stock opened at $119.39 on Friday. The stock’s 50 day simple moving average is $113.97 and its 200 day simple moving average is $108.50. The company has a market cap of $207.69 billion, a P/E ratio of 37.19, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.84%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Abbott Laboratories Profile

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.