Abbott Laboratories (NYSE:ABT) Shares Acquired by MCIA Inc

MCIA Inc lifted its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 9.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 22,822 shares of the healthcare product maker’s stock after acquiring an additional 1,989 shares during the period. Abbott Laboratories accounts for approximately 1.3% of MCIA Inc’s portfolio, making the stock its 16th biggest position. MCIA Inc’s holdings in Abbott Laboratories were worth $2,740,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at $30,000. Delos Wealth Advisors LLC grew its position in Abbott Laboratories by 100.9% in the 4th 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 lifted its position in Abbott Laboratories by 1,125.0% in the fourth quarter. Retirement Group LLC now owns 245 shares of the healthcare product maker’s stock valued at $34,000 after purchasing an additional 225 shares during the period. Joseph Group Capital Management acquired a new stake in Abbott Laboratories in the fourth quarter valued at $1,566,000. Finally, Lumature Wealth Partners LLC boosted its holdings in Abbott Laboratories by 65.4% during the fourth quarter. Lumature Wealth Partners LLC now owns 301 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 119 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ABT traded up $1.25 during midday trading on Wednesday, hitting $105.66. 82,219 shares of the company’s stock traded hands, compared to its average volume of 4,551,420. Abbott Laboratories has a twelve month low of $101.24 and a twelve month high of $142.60. The company has a market cap of $185.00 billion, a PE ratio of 24.43, a P/E/G ratio of 3.70 and a beta of 0.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.85. The firm’s fifty day moving average price is $113.22 and its two-hundred day moving average price is $121.75.

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

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

In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $789,539,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the senior vice president now owns 47,854 shares in the company, valued at $5,407,502. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

ABT has been the subject of several research reports. Raymond James cut their price target on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. StockNews.com initiated coverage on Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Citigroup reduced their target price on shares of Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Royal Bank of Canada decreased their target price on shares of Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Finally, Bank of America assumed coverage on Abbott Laboratories in a report on Tuesday, March 1st. They set a “buy” rating and a $140.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.25.

Abbott Laboratories Company 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.

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

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