North Point Portfolio Managers Corp OH cut its position in Abbott Laboratories (NYSE:ABT) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,459 shares of the healthcare product maker’s stock after selling 12,763 shares during the period. Abbott Laboratories makes up 2.0% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 28th largest position. North Point Portfolio Managers Corp OH’s holdings in Abbott Laboratories were worth $10,317,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Parasol Investment Management LLC increased its position in shares of Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. SeaBridge Investment Advisors LLC increased its position in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares during the last quarter. CapWealth Advisors LLC increased its position in shares of Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares during the last quarter. Delta Asset Management LLC TN increased its position in shares of Abbott Laboratories by 2.8% in the second quarter. Delta Asset Management LLC TN now owns 3,695 shares of the healthcare product maker’s stock valued at $146,000 after buying an additional 100 shares during the last quarter. Finally, Cribstone Capital Management LLC bought a new position in shares of Abbott Laboratories during the second quarter valued at $150,000. Institutional investors and hedge funds own 73.03% of the company’s stock.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Abbott Laboratories (NYSE:ABT) traded up 1.23% during mid-day trading on Monday, reaching $43.50. The company’s stock had a trading volume of 8,285,075 shares. The company has a market cap of $63.94 billion, a PE ratio of 28.71 and a beta of 0.87. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38. The firm’s 50 day moving average is $42.27 and its 200-day moving average is $41.37.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. Abbott Laboratories’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Equities analysts anticipate that Abbott Laboratories will post ($0.01) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.39%. Abbott Laboratories’s dividend payout ratio is currently 68.87%.

Several equities analysts have recently weighed in on ABT shares. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, September 20th. Jefferies Group reduced their price target on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. TheStreet upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Finally, Barclays PLC lifted their price objective on Abbott Laboratories from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $47.02.

In other Abbott Laboratories news, Chairman Miles D. White purchased 242,547 shares of the stock in a transaction on Monday, July 25th. The shares were bought at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the transaction, the chairman now owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the transaction, the senior vice president now owns 59,791 shares in the company, valued at approximately $2,493,882.61. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

5 Day Chart for NYSE:ABT

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