Davidson & Garrard Inc. grew its holdings in Abbott Laboratories (NYSE:ABT) by 9.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 22,173 shares of the healthcare product maker’s stock after buying an additional 2,000 shares during the period. Davidson & Garrard Inc.’s holdings in Abbott Laboratories were worth $1,078,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Sanders Morris Harris LLC raised its holdings in shares of Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after buying an additional 16 shares during the last quarter. St. Louis Trust Co raised its holdings in shares of Abbott Laboratories by 0.4% in the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after buying an additional 20 shares during the last quarter. Alpha Windward LLC raised its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock valued at $264,000 after buying an additional 30 shares during the last quarter. Lakeview Capital Partners LLC raised its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after buying an additional 33 shares during the last quarter. Finally, Johanson Financial Advisors Inc. raised its holdings in shares of Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after buying an additional 37 shares during the last quarter. 70.64% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories (NYSE:ABT) opened at $55.54 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1 year low of $37.38 and a 1 year high of $56.69. The firm has a market cap of $95,437.16, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.91%. Abbott Laboratories’s payout ratio is currently 83.47%.

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ABT has been the subject of a number of research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, August 3rd. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a report on Friday, September 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, October 31st. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Thursday, August 17th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.81.

In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the 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 sale, the executive vice president now directly owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold 282,920 shares of company stock worth $15,389,766 over the last 90 days. 0.76% of the stock is currently owned by company insiders.

Abbott Laboratories Company 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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