Welch Group LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,813 shares of the healthcare product maker’s stock after buying an additional 394 shares during the quarter. Welch Group LLC’s holdings in Abbott Laboratories were worth $817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. State Street Corp boosted its position in Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after purchasing an additional 12,806,535 shares in the last quarter. Boston Partners boosted its position in Abbott Laboratories by 5,663.7% during the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after purchasing an additional 8,069,557 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Abbott Laboratories by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after purchasing an additional 3,344,508 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Abbott Laboratories by 33.8% during the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after purchasing an additional 2,231,316 shares in the last quarter. Finally, Swiss National Bank boosted its position in Abbott Laboratories by 45.3% during the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock valued at $289,943,000 after purchasing an additional 2,035,170 shares in the last quarter. 71.39% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories (NYSE:ABT) opened at $55.16 on Wednesday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69. The stock has a market capitalization of $95,750.45, a PE ratio of 22.83, a PEG ratio of 2.06 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.

In related news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the transaction, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,313 shares of company stock valued at $21,205,356. Company insiders own 0.76% of the company’s stock.

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ABT has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Monday, October 16th. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price objective (up previously from $48.00) on shares of Abbott Laboratories in a research report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price objective (up previously from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $56.81.

Abbott Laboratories 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.

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

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