RVW Wealth LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

RVW Wealth LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the first quarter, HoldingsChannel.com reports. The firm purchased 1,658 shares of the healthcare product maker’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Three Seasons Wealth LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $1,428,000. Kelly Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $216,000. Voleon Capital Management LP purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $273,000. Bank Pictet & Cie Europe AG grew its position in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Edge Financial Advisors LLC grew its position in shares of Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock worth $336,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $126.16 on Friday. The stock has a market cap of $219.50 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock has a 50 day moving average price of $131.86 and a 200-day moving average price of $130.26. Abbott Laboratories has a one year low of $103.55 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company earned $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Morgan Stanley raised their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Raymond James Financial cut their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Finally, Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and raised their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.47.

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.