Flossbach Von Storch AG Buys 2,143,839 Shares of Abbott Laboratories (NYSE:ABT)

Flossbach Von Storch AG lifted its stake in Abbott Laboratories (NYSE:ABT) by 64.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,446,732 shares of the healthcare product maker’s stock after purchasing an additional 2,143,839 shares during the period. Abbott Laboratories comprises about 2.9% of Flossbach Von Storch AG’s investment portfolio, making the stock its 13th largest position. Flossbach Von Storch AG owned 0.31% of Abbott Laboratories worth $429,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orser Capital Management LLC lifted its stake in Abbott Laboratories by 155.3% in the fourth quarter. Orser Capital Management LLC now owns 2,795 shares of the healthcare product maker’s stock worth $243,000 after acquiring an additional 1,700 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth about $65,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Abbott Laboratories by 6.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,229 shares of the healthcare product maker’s stock worth $194,000 after acquiring an additional 129 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in Abbott Laboratories in the fourth quarter worth about $997,000. Finally, Segment Wealth Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth about $236,000. Hedge funds and other institutional investors own 74.89% of the company’s stock.

A number of research firms recently weighed in on ABT. SVB Leerink lowered 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 research note on Wednesday, April 8th. Credit Suisse Group reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Abbott Laboratories in a research note on Friday. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $85.00 to $108.00 in a research report on Friday, April 17th. Zacks Investment Research lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price target for the company. in a research report on Wednesday, April 15th. Finally, Citigroup increased their price target on shares of Abbott Laboratories from $87.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $99.47.

In related news, EVP John F. Ginascol sold 63,200 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $96.00, for a total value of $6,067,200.00. Following the transaction, the executive vice president now owns 129,645 shares in the company, valued at approximately $12,445,920. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jared Watkin sold 8,248 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $82.00, for a total transaction of $676,336.00. Following the completion of the transaction, the senior vice president now owns 68,696 shares in the company, valued at approximately $5,633,072. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,186 shares of company stock worth $15,359,524. 1.70% of the stock is owned by corporate insiders.

Shares of Abbott Laboratories stock traded up $1.08 during midday trading on Friday, hitting $91.47. The company had a trading volume of 5,182,655 shares, compared to its average volume of 7,501,599. The stock has a market cap of $159.89 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 3.75 and a beta of 0.98. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $90.01 and a 200 day simple moving average of $85.74. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $100.00.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The company had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter in the prior year, the company earned $0.63 EPS. Abbott Laboratories’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Abbott Laboratories will post 2.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Abbott Laboratories Company 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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