Abbott Laboratories (NYSE:ABT) Holdings Boosted by MV Capital Management Inc.

MV Capital Management Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 284,685 shares of the healthcare product maker’s stock after purchasing an additional 82 shares during the quarter. Abbott Laboratories comprises 3.4% of MV Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. MV Capital Management Inc.’s holdings in Abbott Laboratories were worth $32,201,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $2,373,461,000. Raymond James Financial Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $635,056,000. State Street Corp boosted its position in shares of 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 acquiring an additional 2,323,807 shares during the last quarter. Jennison Associates LLC increased its position in Abbott Laboratories by 22,372.2% in the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after purchasing an additional 1,196,018 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake 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 purchasing an additional 1,180,040 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares in the company, valued at approximately $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 over the last three months. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Bank of America lifted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $130.81 on Friday. The stock has a market cap of $226.87 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The firm has a 50-day moving average of $130.05 and a two-hundred day moving average of $120.34. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 earnings per share. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.80%. Abbott Laboratories’s payout ratio is currently 30.85%.

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.