Addenda Capital Inc. Sells 176 Shares of Abbott Laboratories (NYSE:ABT)

Addenda Capital Inc. lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 61,929 shares of the healthcare product maker’s stock after selling 176 shares during the period. Addenda Capital Inc.’s holdings in Abbott Laboratories were worth $7,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC increased its position in Abbott Laboratories by 10.0% in the 2nd quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock valued at $3,670,000 after acquiring an additional 3,200 shares during the period. Thrivent Financial for Lutherans increased its position in Abbott Laboratories by 4.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 479,241 shares of the healthcare product maker’s stock valued at $49,799,000 after acquiring an additional 20,480 shares during the period. Frank Rimerman Advisors LLC increased its position in Abbott Laboratories by 22,650.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 16,608 shares of the healthcare product maker’s stock valued at $1,726,000 after acquiring an additional 16,535 shares during the period. 1832 Asset Management L.P. increased its position in Abbott Laboratories by 115.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 161,505 shares of the healthcare product maker’s stock valued at $16,782,000 after acquiring an additional 86,707 shares during the period. Finally, Epoch Investment Partners Inc. increased its position in shares of Abbott Laboratories by 1.7% during the second quarter. Epoch Investment Partners Inc. now owns 60,703 shares of the healthcare product maker’s stock worth $6,308,000 after buying an additional 988 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABT. Mizuho increased their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their target price 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT opened at $113.45 on Tuesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. 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 business has a fifty day moving average price of $114.93 and a two-hundred day moving average price of $112.87. The company has a market capitalization of $196.78 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

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

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.