ETRADE Capital Management LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,085 shares of the healthcare product maker’s stock after purchasing an additional 3,936 shares during the quarter. ETRADE Capital Management LLC’s holdings in Abbott Laboratories were worth $5,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Geode Capital Management LLC boosted its stake in shares of Abbott Laboratories by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after buying an additional 1,778,840 shares during the period. Virtu Financial LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $253,000. Landsberg Bennett & Dubbaneh LLC increased its holdings in shares of Abbott Laboratories by 25.8% in the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,630 shares of the healthcare product maker’s stock valued at $448,000 after purchasing an additional 1,156 shares during the period. Tandem Investment Advisors Inc. increased its holdings in shares of Abbott Laboratories by 9.2% in the first quarter. Tandem Investment Advisors Inc. now owns 329,237 shares of the healthcare product maker’s stock valued at $26,319,000 after purchasing an additional 27,818 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Abbott Laboratories by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 92,700 shares of the healthcare product maker’s stock valued at $7,410,000 after purchasing an additional 600 shares during the period. 73.84% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Cowen upped their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. BMO Capital Markets upped their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Raymond James upped their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Bank of America reaffirmed a “buy” rating and set a $81.00 price objective on shares of Abbott Laboratories in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $86.38.

Abbott Laboratories stock traded up $0.93 during trading on Thursday, hitting $85.45. The company’s stock had a trading volume of 99,045 shares, compared to its average volume of 5,505,266. The stock has a market capitalization of $149.38 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.37 and a beta of 1.14. The stock’s fifty day moving average is $85.33 and its 200 day moving average is $81.08. Abbott Laboratories has a 1-year low of $65.44 and a 1-year high of $88.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.28 annualized dividend and a yield of 1.50%. Abbott Laboratories’s payout ratio is currently 44.44%.

In other Abbott Laboratories news, insider Randel William Woodgrift sold 65,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the sale, the insider now directly owns 117,562 shares in the company, valued at $10,346,631.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $84.00, for a total value of $5,964,000.00. Following the sale, the executive vice president now owns 167,148 shares of the company’s stock, valued at $14,040,432. The disclosure for this sale can be found here. Insiders sold 464,397 shares of company stock valued at $39,677,310 over the last quarter. Insiders own 0.70% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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