Successful Portfolios LLC Sells 128 Shares of Abbott Laboratories (NYSE:ABT)

Successful Portfolios LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 6,360 shares of the healthcare product maker’s stock after selling 128 shares during the quarter. Successful Portfolios LLC’s holdings in Abbott Laboratories were worth $719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 25.6% during the third 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 during the last quarter. Sessa Capital IM L.P. bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $264,876,000. State Street Corp raised its holdings in Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after buying an additional 2,323,807 shares during the period. International Assets Investment Management LLC lifted its position in 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 worth $191,515,000 after buying an additional 1,667,170 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Abbott Laboratories by 13.7% during the third quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after acquiring an additional 1,180,040 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $113.45 on Monday. 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 company has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The firm has a 50 day moving average of $114.93 and a 200 day moving average of $112.80. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64.

Abbott Laboratories Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABT shares. Barclays raised their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Mizuho upped their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, 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.