Lmcg Investments LLC Sells 5,950 Shares of Abbott Laboratories (NYSE:ABT)

Lmcg Investments LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,630 shares of the healthcare product maker's stock after selling 5,950 shares during the period. Abbott Laboratories accounts for 1.2% of Lmcg Investments LLC's investment portfolio, making the stock its 19th biggest holding. Lmcg Investments LLC's holdings in Abbott Laboratories were worth $19,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter valued at about $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the second quarter valued at about $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after buying an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Abbott Laboratories during the second quarter valued at about $37,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were 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 approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ABT. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Oppenheimer started coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price target for the company. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an "overweight" rating and a $131.00 price target for the company. Raymond James reissued a "buy" rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Barclays increased their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $129.67.

Abbott Laboratories Price Performance

Shares of ABT traded up $5.23 during mid-day trading on Friday, hitting $118.60. 10,149,305 shares of the company traded hands, compared to its average volume of 5,727,483. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $114.93 and a 200 day moving average of $108.84. The stock has a market capitalization of $206.35 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.69 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. 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 prior year, the firm earned $1.14 earnings per share. Abbott Laboratories's revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. Abbott Laboratories's payout ratio is presently 66.87%.

Abbott Laboratories Company 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.