MV Capital Management Inc. Sells 2,305 Shares of Abbott Laboratories (NYSE:ABT)

MV Capital Management Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,380 shares of the healthcare product maker’s stock after selling 2,305 shares during the period. Abbott Laboratories comprises about 4.0% of MV Capital Management Inc.’s holdings, making the stock its 5th largest position. MV Capital Management Inc.’s holdings in Abbott Laboratories were worth $37,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $25,000. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $134.04 on Wednesday. The business’s 50 day simple moving average is $130.82 and its 200-day simple moving average is $126.06. The firm has a market capitalization of $233.21 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. 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 has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABT. Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Morgan Stanley raised their price target on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Raymond James raised their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Royal Bank of Canada raised their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

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.