KCM Investment Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT – Free Report) by 11.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 129,053 shares of the healthcare product maker’s stock after selling 16,437 shares during the quarter. KCM Investment Advisors LLC’s holdings in Abbott Laboratories were worth $13,250,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Abbott Laboratories by 3.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock valued at $648,000 after purchasing an additional 162 shares in the last quarter. United Bank increased its holdings in Abbott Laboratories by 7.4% during the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker’s stock valued at $3,945,000 after purchasing an additional 2,001 shares in the last quarter. Main Street Financial Solutions LLC raised its position in Abbott Laboratories by 13.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker’s stock valued at $1,618,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Abbott Laboratories by 25.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker’s stock worth $195,267,000 after purchasing an additional 292,547 shares in the last quarter. 75.18% of the stock is owned by institutional investors.
Abbott Laboratories Trading Up 1.5%
ABT stock opened at $104.61 on Tuesday. The company has a market cap of $182.20 billion, a P/E ratio of 33.85, a PEG ratio of 2.00 and a beta of 0.61. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $91.95 and a 200-day moving average of $100.99.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 81.55%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ABT. TD Cowen restated a “buy” rating and issued a $115.00 target price on shares of Abbott Laboratories in a research note on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Robert W. Baird initiated coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price objective on the stock. Benchmark lowered their price objective on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, Barclays dropped their target price on shares of Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $118.61.
Abbott Laboratories Profile
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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