Livingston Group Asset Management CO operating as Southport Capital Management Acquires 313 Shares of Abbott Laboratories (NYSE:ABT)


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Livingston Group Asset Management CO operating as Southport Capital Management boosted its holdings in Abbott Laboratories (NYSE:ABT) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,124 shares of the healthcare product maker’s stock after buying an additional 313 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Abbott Laboratories were worth $452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in Abbott Laboratories by 5.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 25,721,656 shares of the healthcare product maker’s stock worth $2,799,288,000 after purchasing an additional 1,265,801 shares during the last quarter. Morgan Stanley raised its holdings in Abbott Laboratories by 2.3% during the 3rd quarter. Morgan Stanley now owns 25,371,069 shares of the healthcare product maker’s stock worth $2,761,133,000 after purchasing an additional 568,480 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Abbott Laboratories by 1.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 8,507,561 shares of the healthcare product maker’s stock worth $925,878,000 after purchasing an additional 121,985 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Abbott Laboratories by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 7,156,120 shares of the healthcare product maker’s stock worth $778,801,000 after buying an additional 251,776 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Abbott Laboratories by 11.2% during the 2nd quarter. Principal Financial Group Inc. now owns 5,503,398 shares of the healthcare product maker’s stock worth $503,176,000 after buying an additional 556,192 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

In related news, Director Phebe N. Novakovic sold 4,790 shares of the stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $107.28, for a total value of $513,871.20. Following the completion of the transaction, the director now directly owns 34,446 shares in the company, valued at $3,695,366.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert E. Funck sold 83,333 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $108.83, for a total value of $9,069,130.39. Following the completion of the transaction, the chief financial officer now owns 265,550 shares of the company’s stock, valued at $28,899,806.50. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

ABT has been the topic of a number of recent analyst reports. Credit Suisse Group lowered their target price on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $118.00 target price for the company. in a research note on Tuesday, October 27th. Morgan Stanley boosted their price objective on Abbott Laboratories from $121.00 to $126.00 and gave the company an “overweight” rating in a research report on Tuesday, December 15th. Finally, SVB Leerink increased their price objective on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average target price of $115.82.

Shares of ABT stock opened at $112.15 on Thursday. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $115.14. The stock’s fifty day moving average price is $108.46 and its 200 day moving average price is $105.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The company has a market cap of $198.77 billion, a price-to-earnings ratio of 59.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.53 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 3.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, January 14th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.36. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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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