Eagle Global Advisors LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 14.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,331 shares of the healthcare product maker’s stock after selling 912 shares during the quarter. Eagle Global Advisors LLC’s holdings in Abbott Laboratories were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schnieders Capital Management LLC lifted its position in shares of Abbott Laboratories by 2.0% during the 2nd quarter. Schnieders Capital Management LLC now owns 71,396 shares of the healthcare product maker’s stock valued at $3,471,000 after acquiring an additional 1,424 shares during the period. Texas Capital Bancshares Inc. TX acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at approximately $320,000. Harbour Capital Advisors LLC lifted its position in shares of Abbott Laboratories by 4,315.9% during the 2nd quarter. Harbour Capital Advisors LLC now owns 91,144 shares of the healthcare product maker’s stock valued at $1,875,000 after acquiring an additional 89,080 shares during the period. First Merchants Corp lifted its position in shares of Abbott Laboratories by 67.3% during the 2nd quarter. First Merchants Corp now owns 66,082 shares of the healthcare product maker’s stock valued at $3,212,000 after acquiring an additional 26,574 shares during the period. Finally, IBM Retirement Fund lifted its position in shares of Abbott Laboratories by 71.1% during the 2nd quarter. IBM Retirement Fund now owns 41,404 shares of the healthcare product maker’s stock valued at $2,249,000 after acquiring an additional 17,200 shares during the period. 71.50% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on ABT. Citigroup Inc. began coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, September 22nd. Barclays PLC lifted their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Finally, J P Morgan Chase & Co began coverage on shares of Abbott Laboratories in a research report on Friday. They set a “neutral” rating and a $60.00 price target for the company. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.75.

In related news, insider Hubert L. Allen sold 4,600 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the sale, the insider now owns 105,479 shares in the company, valued at approximately $5,357,278.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Blaser sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider now owns 143,154 shares of the company’s stock, valued at approximately $7,157,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,310 shares of company stock valued at $16,857,255. 0.76% of the stock is owned by insiders.

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Abbott Laboratories (ABT) opened at 55.00 on Friday. The firm has a 50-day moving average price of $51.71 and a 200 day moving average price of $47.76. The firm has a market capitalization of $95.56 billion, a P/E ratio of 77.03 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.11.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities research analysts anticipate 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 given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

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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