LVM Capital Management Ltd. MI Grows Stake in Abbott Laboratories (NYSE:ABT)

LVM Capital Management Ltd. MI raised its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 0.8% during the first quarter, HoldingsChannel reports. The fund owned 29,011 shares of the healthcare product maker’s stock after buying an additional 226 shares during the period. LVM Capital Management Ltd. MI’s holdings in Abbott Laboratories were worth $3,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth $30,000. Delos Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 100.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 116 shares during the last quarter. Retirement Group LLC boosted its position in shares of Abbott Laboratories by 1,125.0% during the fourth quarter. Retirement Group LLC now owns 245 shares of the healthcare product maker’s stock valued at $34,000 after buying an additional 225 shares during the last quarter. Joseph Group Capital Management purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $1,566,000. Finally, Lumature Wealth Partners LLC boosted its position in shares of Abbott Laboratories by 65.4% during the fourth quarter. Lumature Wealth Partners LLC now owns 301 shares of the healthcare product maker’s stock valued at $42,000 after buying an additional 119 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on ABT shares. Raymond James dropped their price objective on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Bank of America started coverage on Abbott Laboratories in a report on Tuesday, March 1st. They issued a “buy” rating and a $140.00 target price on the stock. Morgan Stanley lowered their target price on Abbott Laboratories from $151.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. Royal Bank of Canada lowered their target price on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. Finally, StockNews.com started coverage on Abbott Laboratories in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.25.

NYSE:ABT opened at $105.44 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 12-month low of $101.24 and a 12-month high of $142.60. The stock has a 50-day moving average price of $112.94 and a 200 day moving average price of $121.64. The stock has a market capitalization of $184.62 billion, a P/E ratio of 24.46, a P/E/G ratio of 3.77 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Rating) last released its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.26. The firm had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.32 earnings per share. On average, research analysts predict that Abbott Laboratories will post 4.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio is presently 43.62%.

In other news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $113.22, for a total value of $5,661,000.00. Following the completion of the transaction, the director now owns 6,973,500 shares in the company, valued at approximately $789,539,670. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Randel William Woodgrift sold 24,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total value of $2,712,000.00. Following the completion of the transaction, the senior vice president now owns 47,854 shares of the company’s stock, valued at approximately $5,407,502. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Abbott Laboratories Profile (Get Rating)

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 Established Pharmaceutical Products segment 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.

Further Reading

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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