Hills Bank & Trust Co. increased its position in Abbott Laboratories (NYSE:ABT) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,016 shares of the healthcare product maker’s stock after buying an additional 2,945 shares during the quarter. Hills Bank & Trust Co.’s holdings in Abbott Laboratories were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. increased its stake in shares of Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 2,000 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of Abbott Laboratories by 9.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock valued at $152,000 after buying an additional 292 shares during the period. Farmers National Bank increased its stake in shares of Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after buying an additional 52 shares during the period. Advantage Investment Management LLC increased its stake in shares of Abbott Laboratories by 17.3% in the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after buying an additional 543 shares during the period. Finally, Delta Asset Management LLC TN increased its stake in shares of 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 valued at $178,000 after buying an additional 51 shares during the period. 71.50% of the stock is owned by institutional investors.

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Abbott Laboratories (NYSE:ABT) traded up 3.2575% during trading on Thursday, hitting $53.8488. The company’s stock had a trading volume of 8,858,950 shares. The firm has a market cap of $93.56 billion, a P/E ratio of 75.4185 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $54.80. The firm has a 50 day moving average of $50.14 and a 200 day moving average of $47.04.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities research analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 2.01%. Abbott Laboratories’s payout ratio is 149.30%.

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Abbott Laboratories from $57.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays PLC upped their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Group LLC reissued a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 29th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 21st. Finally, BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $53.64.

In related news, insider Brian J. Blaser sold 15,000 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the sale, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was 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 directly owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,850 shares of company stock worth $13,549,998. 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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