Magnolia Capital Advisors LLC Makes New $314,000 Investment in Abbott Laboratories (NYSE:ABT)

Magnolia Capital Advisors LLC bought a new position in Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,770 shares of the healthcare product maker’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wynn Capital LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $366,000. Bfsg LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $51,000. GAMMA Investing LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $1,916,000. Linden Thomas Advisory Services LLC lifted its position in shares of Abbott Laboratories by 10.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 20,045 shares of the healthcare product maker’s stock valued at $2,206,000 after buying an additional 1,895 shares in the last quarter. Finally, Community Bank & Trust Waco Texas lifted its position in shares of Abbott Laboratories by 6.4% during the 4th quarter. Community Bank & Trust Waco Texas now owns 43,215 shares of the healthcare product maker’s stock valued at $4,757,000 after buying an additional 2,596 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.7 %

ABT traded down $0.70 during trading hours on Wednesday, reaching $106.89. 5,050,066 shares of the company’s stock traded hands, compared to its average volume of 5,719,627. The firm has a 50-day moving average price of $113.90 and a 200 day moving average price of $107.97. 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 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $185.47 billion, a PE ratio of 33.30, a PEG ratio of 2.58 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Citigroup boosted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays lowered their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday. Finally, Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock worth $6,451,298 in the last three months. 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.