Los Angeles Capital Management LLC Sells 54,709 Shares of Abbott Laboratories (NYSE:ABT)

Los Angeles Capital Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 78.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,355 shares of the healthcare product maker’s stock after selling 54,709 shares during the period. Los Angeles Capital Management LLC’s holdings in Abbott Laboratories were worth $1,751,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. lifted its holdings in shares of Abbott Laboratories by 1.5% in the third quarter. Crossmark Global Holdings Inc. now owns 338,266 shares of the healthcare product maker’s stock valued at $38,566,000 after purchasing an additional 5,047 shares in the last quarter. Tyler Stone Wealth Management raised its position in Abbott Laboratories by 185.3% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,760 shares of the healthcare product maker’s stock valued at $201,000 after buying an additional 1,143 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Abbott Laboratories by 103.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 7,307 shares of the healthcare product maker’s stock valued at $833,000 after acquiring an additional 3,724 shares in the last quarter. Riverstone Advisors LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $216,000. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 5.8% in the third quarter. Axxcess Wealth Management LLC now owns 119,854 shares of the healthcare product maker’s stock valued at $13,664,000 after purchasing an additional 6,610 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ABT. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, UBS Group raised 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT stock opened at $115.74 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $200.75 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $96.20 and a twelve month high of $121.64. The stock’s fifty day simple moving average is $115.43 and its 200 day simple moving average is $109.35.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the business earned $1.14 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 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.