Mark Sheptoff Financial Planning LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,563 shares of the healthcare product maker’s stock after buying an additional 3,729 shares during the period. Abbott Laboratories makes up 1.5% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 18th largest position. Mark Sheptoff Financial Planning LLC’s holdings in Abbott Laboratories were worth $2,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Capital Management LLC increased its position in Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after buying an additional 26 shares during the period. Delta Asset Management LLC TN increased its position in Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 51 shares during the period. Alexandria Capital LLC increased its position in Abbott Laboratories by 0.5% in the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock worth $503,000 after buying an additional 56 shares during the period. iAB Financial Bank increased its position in Abbott Laboratories by 0.4% in the first quarter. iAB Financial Bank now owns 27,050 shares of the healthcare product maker’s stock worth $1,201,000 after buying an additional 100 shares during the period. Finally, Pekin Singer Strauss Asset Management IL increased its position in Abbott Laboratories by 0.5% in the first quarter. Pekin Singer Strauss Asset Management IL now owns 22,058 shares of the healthcare product maker’s stock worth $980,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 71.64% of the company’s stock.

Abbott Laboratories (ABT) traded up 0.525% during mid-day trading on Thursday, hitting $50.373. 1,031,938 shares of the company were exchanged. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13. The company has a market cap of $87.52 billion, a price-to-earnings ratio of 70.550 and a beta of 1.07. The stock’s 50 day moving average is $49.25 and its 200-day moving average is $46.20.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period last year, the company earned $0.55 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.

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A number of research analysts have commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and set a $57.00 price objective (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective on the stock. Cowen and Company reiterated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 17th. Finally, BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $52.14.

In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction that occurred on 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 sale, the insider now directly owns 221,488 shares in the company, valued at $10,188,448. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction that occurred on 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 sale, the insider now owns 47,090 shares of the company’s stock, valued at $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 over the last 90 days. 0.76% of the stock is owned by corporate insiders.

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.

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

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