Abbott Laboratories (NYSE:ABT) is MV Capital Management Inc.'s 5th Largest Position

MV Capital Management Inc. reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,380 shares of the healthcare product maker's stock after selling 2,305 shares during the period. Abbott Laboratories comprises 4.0% of MV Capital Management Inc.'s investment portfolio, making the stock its 5th largest position. MV Capital Management Inc.'s holdings in Abbott Laboratories were worth $37,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Norges Bank bought a new position in Abbott Laboratories during the 4th quarter valued at approximately $2,373,461,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after acquiring an additional 6,628,310 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Abbott Laboratories in the fourth quarter worth $635,056,000. GAMMA Investing LLC boosted its holdings in Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after acquiring an additional 5,069,771 shares in the last quarter. Finally, Capital International Investors increased its position in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $1.04 during midday trading on Friday, reaching $135.41. 3,927,244 shares of the company's stock traded hands, compared to its average volume of 6,092,555. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a market cap of $235.59 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.52 and a beta of 0.73. The stock has a 50 day moving average of $131.26 and a 200 day moving average of $126.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.74%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction 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 sale, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABT shares. Raymond James lifted their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Wells Fargo & Company upped their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Jefferies Financial Group increased their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Morgan Stanley upped their price target on Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.