V Wealth Management LLC Takes $334,000 Position in Abbott Laboratories (ABT)

V Wealth Management LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,564 shares of the healthcare product maker’s stock, valued at approximately $334,000.

Other large investors have also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new position in shares of Abbott Laboratories in the third quarter valued at approximately $103,000. Atlantic Trust LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $104,000. FNY Investment Advisers LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $118,000. Fort L.P. bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $119,000. Finally, Security National Bank of SO Dak lifted its holdings in shares of Abbott Laboratories by 72.0% in the second quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after purchasing an additional 878 shares in the last quarter. Institutional investors and hedge funds own 72.30% of the company’s stock.

Shares of ABT opened at $70.96 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. The company has a market cap of $123.28 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.39. Abbott Laboratories has a 12 month low of $54.32 and a 12 month high of $74.15.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted $0.66 earnings per share. Abbott Laboratories’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts predict that Abbott Laboratories will post 2.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.39, for a total value of $366,950.00. Following the completion of the sale, the insider now directly owns 93,321 shares of the company’s stock, valued at $6,848,828.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jared Watkin sold 65,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total value of $4,615,000.00. Following the completion of the sale, the insider now directly owns 128,640 shares of the company’s stock, valued at $9,133,440. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 over the last three months. Company insiders own 0.74% of the company’s stock.

ABT has been the topic of a number of recent research reports. Cowen raised their target price on Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a report on Friday, October 5th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Morgan Stanley increased their price target on Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Wells Fargo & Co increased their price target on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $75.22.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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