Gerber Kawasaki Wealth & Investment Management cut its holdings in Abbott Laboratories (NYSE:ABT) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,457 shares of the healthcare product maker’s stock after selling 410 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Abbott Laboratories were worth $649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sanders Morris Harris LLC boosted its position in Abbott Laboratories by 0.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after acquiring an additional 16 shares during the last quarter. St. Louis Trust Co boosted its position in Abbott Laboratories by 0.4% during the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after acquiring an additional 20 shares during the last quarter. Alpha Windward LLC boosted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after acquiring an additional 30 shares during the last quarter. Lakeview Capital Partners LLC boosted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after acquiring an additional 33 shares during the last quarter. Finally, Johanson Financial Advisors Inc. boosted its position in Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.

ABT has been the subject of a number of recent research reports. BidaskClub downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Cowen Inc reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 17th. Finally, Citigroup Inc. initiated coverage on Abbott Laboratories in a research report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $56.81.

Shares of Abbott Laboratories (ABT) opened at $55.80 on Friday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $97,125.53, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.09 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. equities analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.

In related news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the sale, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the sale, the insider now owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,939 shares of company stock worth $16,835,789. 0.76% of the stock is owned by company insiders.

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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.

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

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