Private Bank & Trust Co. boosted its stake in Abbott Laboratories (NYSE:ABT) by 12.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 30,322 shares of the healthcare product maker’s stock after buying an additional 3,330 shares during the period. Private Bank & Trust Co.’s holdings in Abbott Laboratories were worth $1,473,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABT. State Street Corp boosted its stake in shares of Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after buying an additional 12,806,535 shares in the last quarter. Boston Partners raised its position in shares of Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after buying an additional 8,069,557 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after buying an additional 3,344,508 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Abbott Laboratories by 33.8% in the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after buying an additional 2,231,316 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Abbott Laboratories by 45.3% in the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock worth $289,943,000 after buying an additional 2,035,170 shares during the last quarter. 71.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) traded up 1.50% during midday trading on Monday, hitting $50.09. 2,475,111 shares of the stock traded hands. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13. The firm has a 50-day moving average price of $49.25 and a 200-day moving average price of $46.20. The stock has a market capitalization of $87.03 billion, a P/E ratio of 70.15 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. On average, equities analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.15%. The ex-dividend date was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.

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A number of equities analysts have recently issued reports on the stock. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They set a “neutral” rating and a $53.00 target price on the stock. Cowen and Company reiterated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. BidaskClub lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $52.14.

In other news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. Insiders have sold 415,252 shares of company stock valued at $19,878,958 in the last three months. Insiders own 0.76% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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