Adirondack Trust Co. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,347 shares of the healthcare product maker’s stock after selling 145 shares during the quarter. Adirondack Trust Co.’s holdings in Abbott Laboratories were worth $698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its position in Abbott Laboratories by 1.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 114,833 shares of the healthcare product maker’s stock valued at $9,180,000 after acquiring an additional 1,438 shares during the last quarter. Securian Asset Management Inc grew its position in Abbott Laboratories by 0.7% in the 1st quarter. Securian Asset Management Inc now owns 183,588 shares of the healthcare product maker’s stock valued at $14,676,000 after acquiring an additional 1,334 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Abbott Laboratories by 7.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 237,568 shares of the healthcare product maker’s stock valued at $18,991,000 after acquiring an additional 15,692 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Abbott Laboratories by 27.9% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 516,873 shares of the healthcare product maker’s stock valued at $41,319,000 after acquiring an additional 112,888 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Abbott Laboratories by 91.7% in the 1st quarter. Quadrant Capital Group LLC now owns 29,692 shares of the healthcare product maker’s stock valued at $2,352,000 after acquiring an additional 14,201 shares during the last quarter. 73.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABT stock traded up $0.99 during mid-day trading on Wednesday, hitting $79.50. The stock had a trading volume of 3,546,706 shares, compared to its average volume of 5,351,709. Abbott Laboratories has a 12-month low of $65.44 and a 12-month high of $88.76. The firm has a market capitalization of $144.91 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13. The firm’s 50-day moving average is $83.30 and its two-hundred day moving average is $81.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is 44.44%.

Several brokerages have commented on ABT. BMO Capital Markets upped their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Cowen upped their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley upped their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Bank of America reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $86.74.

In related news, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the sale, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randel William Woodgrift sold 65,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total value of $5,720,650.00. Following the sale, the insider now owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The disclosure for this sale can be found here. Insiders sold a total of 181,497 shares of company stock valued at $15,701,810 over the last quarter. Company 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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