Livelsberger Financial Advisory Invests $337,000 in Abbott Laboratories (NYSE:ABT)

Livelsberger Financial Advisory bought a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,066 shares of the healthcare product maker’s stock, valued at approximately $337,000.

Several other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new stake in Abbott Laboratories during the 3rd quarter valued at about $16,287,000. Envestnet Asset Management Inc. increased its position in Abbott Laboratories by 30.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock valued at $351,311,000 after purchasing an additional 853,997 shares during the period. Invesco Ltd. increased its position in Abbott Laboratories by 0.4% during the 3rd quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock valued at $576,228,000 after purchasing an additional 20,851 shares during the period. Sargent Investment Group LLC increased its position in Abbott Laboratories by 2.3% during the 3rd quarter. Sargent Investment Group LLC now owns 9,085 shares of the healthcare product maker’s stock valued at $880,000 after purchasing an additional 206 shares during the period. Finally, Pearl River Capital LLC grew its position in shares of Abbott Laboratories by 469.4% in the 3rd quarter. Pearl River Capital LLC now owns 46,024 shares of the healthcare product maker’s stock worth $4,457,000 after buying an additional 37,941 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of analyst reports. Barclays cut their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup dropped their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $120.64.

Abbott Laboratories Trading Down 0.2 %

Shares of ABT opened at $103.45 on Tuesday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $105.52 and its two-hundred day moving average is $110.14. The stock has a market cap of $179.96 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Activity at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Abbott Laboratories Company Profile

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.