Lavaca Capital LLC Sells 621 Shares of Abbott Laboratories (NYSE:ABT)

Lavaca Capital LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,163 shares of the healthcare product maker’s stock after selling 621 shares during the period. Abbott Laboratories accounts for 1.2% of Lavaca Capital LLC’s investment portfolio, making the stock its 18th biggest position. Lavaca Capital LLC’s holdings in Abbott Laboratories were worth $1,275,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABT. Benjamin Edwards Inc. boosted its holdings in Abbott Laboratories by 57.0% in the 1st quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Abbott Laboratories by 374.3% during the 1st quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after acquiring an additional 277 shares during the last quarter. Lion Street Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $31,000. Howard Wealth Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $32,000. Finally, AlphaCore Capital LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $33,000. 73.44% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Jared Watkin sold 8,248 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $82.00, for a total transaction of $676,336.00. Following the sale, the senior vice president now owns 68,696 shares of the company’s stock, valued at $5,633,072. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew H. Lane sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the sale, the executive vice president now directly owns 107,090 shares in the company, valued at approximately $9,852,280. The disclosure for this sale can be found here. Insiders have sold 166,186 shares of company stock worth $15,359,524 in the last quarter. 1.70% of the stock is owned by corporate insiders.

ABT has been the subject of a number of research analyst reports. Cfra lifted their price objective on shares of Abbott Laboratories from $99.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of Abbott Laboratories from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Credit Suisse Group reaffirmed a “buy” rating and set a $106.00 price objective on shares of Abbott Laboratories in a report on Friday, May 22nd. Morgan Stanley dropped their price objective on shares of Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, March 27th. Finally, SVB Leerink dropped their price objective on shares of Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating for the company in a report on Wednesday, April 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $99.47.

Shares of ABT stock traded up $0.83 during mid-day trading on Wednesday, reaching $90.31. The stock had a trading volume of 3,229,716 shares, compared to its average volume of 6,968,028. The stock’s 50-day moving average price is $91.03 and its two-hundred day moving average price is $85.92. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $100.00. The firm has a market capitalization of $161.80 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.98. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 2.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Abbott Laboratories Profile

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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