Inspirion Wealth Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,681 shares of the healthcare product maker’s stock after selling 3,844 shares during the period. Abbott Laboratories comprises approximately 5.4% of Inspirion Wealth Advisors LLC’s portfolio, making the stock its 6th largest position. Inspirion Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $9,534,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABT. First Command Financial Services Inc. raised its stake in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares during the period. Atria Investments LLC raised its stake in Abbott Laboratories by 10.6% in the first quarter. Atria Investments LLC now owns 58,514 shares of the healthcare product maker’s stock valued at $2,599,000 after buying an additional 5,617 shares during the period. Integrated Wealth Management raised its stake in Abbott Laboratories by 1.4% in the first quarter. Integrated Wealth Management now owns 32,320 shares of the healthcare product maker’s stock valued at $1,435,000 after buying an additional 450 shares during the period. First National Bank & Trust Co. of Newtown raised its stake in Abbott Laboratories by 4.0% in the first quarter. First National Bank & Trust Co. of Newtown now owns 18,220 shares of the healthcare product maker’s stock valued at $809,000 after buying an additional 696 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Abbott Laboratories by 4.0% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 50,318 shares of the healthcare product maker’s stock valued at $2,235,000 after buying an additional 1,936 shares during the period. 71.64% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories (ABT) traded up 0.47% during trading on Friday, hitting $51.18. 4,599,498 shares of the company’s stock traded hands. The company’s 50 day moving average price is $49.56 and its 200 day moving average price is $46.48. The company has a market cap of $88.92 billion, a PE ratio of 71.68 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.41.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. Analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.

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ABT has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 price target (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, May 16th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $48.00 price target on shares of Abbott Laboratories in a research report on Tuesday, July 11th. 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 has an average rating of “Buy” and a consensus price target of $52.50.

In related news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the sale, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold a total of 415,252 shares of company stock worth $19,878,958 over the last quarter. Company insiders own 0.76% of the company’s stock.

About Abbott Laboratories

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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