Los Angeles Capital Management LLC Has $1.75 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Los Angeles Capital Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 78.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,355 shares of the healthcare product maker's stock after selling 54,709 shares during the quarter. Los Angeles Capital Management LLC's holdings in Abbott Laboratories were worth $1,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. BDF Gestion purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $7,651,000. Dundas Partners LLP lifted its stake in shares of Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker's stock valued at $34,313,000 after purchasing an additional 6,897 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker's stock worth $22,091,000 after purchasing an additional 31,720 shares in the last quarter. MONECO Advisors LLC lifted its position in Abbott Laboratories by 110.1% during the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker's stock valued at $3,551,000 after buying an additional 16,325 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Abbott Laboratories in the first quarter worth $2,160,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 220,059 shares of the company's stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABT shares. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Raymond James reissued a "buy" rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Morgan Stanley upped their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, Mizuho increased their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.07.

Abbott Laboratories Price Performance

ABT stock traded down $0.69 during trading hours on Thursday, hitting $115.05. 3,810,205 shares of the stock traded hands, compared to its average volume of 5,696,197. Abbott Laboratories has a one year low of $96.92 and a one year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $199.55 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72. The stock has a 50-day simple moving average of $115.45 and a 200 day simple moving average of $109.39.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analysts' expectations of $10.55 billion. During the same period in the previous year, the firm posted $1.14 EPS. The company's quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories's dividend payout ratio is currently 66.87%.

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.