Aberdeen Asset Management PLC UK decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 41.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 601,756 shares of the healthcare product maker’s stock after selling 430,560 shares during the quarter. Aberdeen Asset Management PLC UK’s holdings in Abbott Laboratories were worth $26,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY boosted its holdings in shares of Abbott Laboratories by 37.9% during the 1st quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after acquiring an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $112,000. Atwood & Palmer Inc. boosted its holdings in shares of Abbott Laboratories by 157.5% during the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after acquiring an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its holdings in shares of Abbott Laboratories by 9.3% during the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock valued at $152,000 after acquiring an additional 292 shares in the last quarter. Finally, Advantage Investment Management LLC boosted its holdings in shares of Abbott Laboratories by 17.3% during the 1st quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after acquiring an additional 543 shares in the last quarter. 71.66% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on ABT. BMO Capital Markets reissued a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a report on Friday, September 1st. Citigroup Inc. began coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective on the stock. Cowen and Company reissued a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 17th. BidaskClub downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average target price of $52.50.

Abbott Laboratories (NYSE ABT) traded up 0.186% on Wednesday, hitting $51.125. The stock had a trading volume of 1,264,950 shares. The stock’s 50-day moving average is $49.64 and its 200-day moving average is $46.58. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.41. The company has a market cap of $88.83 billion, a P/E ratio of 71.604 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results 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 net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% on a year-over-year basis. Analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Wednesday, July 12th. Abbott Laboratories’s payout ratio is currently 149.30%.

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In related news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,252 shares of company stock valued at $19,878,958. 0.76% of the stock is owned by insiders.

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.

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

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