Alpha Cubed Investments LLC Trims Position in Abbott Laboratories (NYSE:ABT)

Alpha Cubed Investments LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,950 shares of the healthcare product maker’s stock after selling 1,179 shares during the period. Alpha Cubed Investments LLC’s holdings in Abbott Laboratories were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Groupama Asset Managment increased its holdings in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the 2nd quarter worth about $32,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE:ABT opened at $113.45 on Tuesday. The firm has a market cap of $196.78 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The stock has a 50 day moving average of $114.87 and a two-hundred day moving average of $112.95. Abbott Laboratories has a 12 month low of $99.71 and a 12 month 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.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABT. Evercore ISI lifted their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays increased their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

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.