Abbott Laboratories (NYSE:ABT) Shares Sold by Penn Davis Mcfarland Inc.

Penn Davis Mcfarland Inc. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,325 shares of the healthcare product maker’s stock after selling 450 shares during the period. Penn Davis Mcfarland Inc.’s holdings in Abbott Laboratories were worth $3,543,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $264,876,000. State Street Corp boosted its stake in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Abbott Laboratories by 13,194.9% in the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Abbott Laboratories by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after buying an additional 1,180,040 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABT. Raymond James reiterated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT opened at $113.45 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market cap of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The firm has a fifty day moving average price of $114.93 and a 200 day moving average price of $112.80.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $0.59 dividend. 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%.

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.