My Legacy Advisors LLC Lowers Stock Position in Abbott Laboratories (NYSE:ABT)

My Legacy Advisors LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,508 shares of the healthcare product maker’s stock after selling 672 shares during the quarter. My Legacy Advisors LLC’s holdings in Abbott Laboratories were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ABT. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC grew its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories in the second quarter valued at about $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT opened at $113.45 on Friday. 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 firm has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.40 and a beta of 0.73. The stock’s 50-day moving average price is $114.93 and its two-hundred day moving average price is $112.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Sanford C. Bernstein raised their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, UBS Group raised their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

About Abbott Laboratories

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.