Whittier Trust Co. decreased its position in Abbott Laboratories (NYSE:ABT) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 403,641 shares of the healthcare product maker’s stock after selling 3,074 shares during the period. Whittier Trust Co.’s holdings in Abbott Laboratories were worth $15,867,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in 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 worth $101,000 after buying an additional 600 shares in 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 worth $113,000 after buying an additional 275 shares in 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 worth $127,000 after buying an additional 400 shares in 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 worth $146,000 after buying an additional 100 shares in the last quarter. Finally, Cribstone Capital Management LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth $150,000. 73.00% of the stock is owned by institutional investors and hedge funds.

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

Abbott Laboratories (NYSE:ABT) traded up 1.43% during mid-day trading on Tuesday, hitting $41.17. 9,604,947 shares of the stock traded hands. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.38. The stock has a market cap of $60.52 billion, a price-to-earnings ratio of 27.17 and a beta of 0.87. The company’s 50 day moving average price is $41.83 and its 200-day moving average price is $41.37.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The company earned $5.30 billion during the quarter, compared to analyst estimates of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. Abbott Laboratories’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. Analysts predict that Abbott Laboratories will post $2.20 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.87%.

A number of brokerages recently weighed in on ABT. Bank of America Corp. reissued a “buy” rating on shares of Abbott Laboratories in a research note on Monday, September 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a report on Monday, September 19th. Barclays PLC restated an “overweight” rating and issued a $48.00 price target on shares of Abbott Laboratories in a report on Tuesday, July 12th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, July 5th. Finally, Argus restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $47.02.

In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Funck sold 26,800 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $43.08, for a total transaction of $1,154,544.00. Following the sale, the vice president now directly owns 111,819 shares in the company, valued at $4,817,162.52. The disclosure for this sale can be found here. Corporate 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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