Schafer Cullen Capital Management Inc. cut its position in Abbott Laboratories (NYSE:ABT) by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 69,570 shares of the healthcare product maker’s stock after selling 13,630 shares during the period. Schafer Cullen Capital Management Inc.’s holdings in Abbott Laboratories were worth $3,382,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Villere ST Denis J & Co. LLC grew its stake in shares of Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after acquiring an additional 5,950 shares during the period. Private Bank & Trust Co. grew its stake in shares of Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after acquiring an additional 3,330 shares during the period. Gratus Capital LLC grew its stake in shares of Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after acquiring an additional 1,869 shares during the period. Comerica Securities Inc. bought a new stake in shares of Abbott Laboratories in the first quarter worth approximately $2,833,000. Finally, AQR Capital Management LLC grew its stake in shares of Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after acquiring an additional 460,477 shares during the period. 71.32% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories (ABT) opened at $55.70 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a 1 year low of $37.90 and a 1 year high of $56.69. The firm has a market cap of $95,628.62, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. The business’s revenue was up 28.8% compared to the same quarter last year. equities research analysts expect that Abbott Laboratories will post 2.49 EPS for the current fiscal year.

The company also recently disclosed 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. This represents a $1.06 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.

A number of analysts have recently commented on ABT shares. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, October 31st. Royal Bank of Canada restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Jefferies Group restated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 19th. Bank of America restated a “buy” rating and set a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. Finally, Citigroup restated a “neutral” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.56.

In other news, insider Brian J. Blaser sold 23,866 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the transaction, the insider now directly owns 146,387 shares in the company, valued at $8,131,797.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at $6,005,906.70. The disclosure for this sale can be found here. Insiders have sold 588,013 shares of company stock worth $32,023,946 in the last quarter. Company insiders own 0.76% of the company’s stock.

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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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