Alpha Cubed Investments LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.1% during the third quarter, HoldingsChannel.com reports. The firm owned 6,514 shares of the healthcare product maker’s stock after selling 900 shares during the period. Alpha Cubed Investments LLC’s holdings in Abbott Laboratories were worth $709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Abbot Financial Management Inc. grew its position in Abbott Laboratories by 0.8% during the second quarter. Abbot Financial Management Inc. now owns 12,986 shares of the healthcare product maker’s stock valued at $1,187,000 after purchasing an additional 100 shares in the last quarter. Providence Wealth Advisors LLC grew its position in Abbott Laboratories by 3.4% during the second quarter. Providence Wealth Advisors LLC now owns 3,020 shares of the healthcare product maker’s stock valued at $276,000 after purchasing an additional 100 shares in the last quarter. Private Asset Management Inc. grew its position in Abbott Laboratories by 1.1% during the third quarter. Private Asset Management Inc. now owns 8,996 shares of the healthcare product maker’s stock valued at $979,000 after purchasing an additional 100 shares in the last quarter. Acropolis Investment Management LLC grew its position in Abbott Laboratories by 2.8% during the third quarter. Acropolis Investment Management LLC now owns 3,734 shares of the healthcare product maker’s stock valued at $406,000 after purchasing an additional 101 shares in the last quarter. Finally, Focused Wealth Management Inc grew its position in Abbott Laboratories by 12.1% during the second quarter. Focused Wealth Management Inc now owns 947 shares of the healthcare product maker’s stock valued at $87,000 after purchasing an additional 102 shares in the last quarter. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on ABT shares. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, August 27th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Monday, October 12th. SVB Leerink boosted their target price on shares of Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Wolfe Research started coverage on shares of Abbott Laboratories in a research report on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price for the company. Finally, Citigroup boosted their target price on shares of Abbott Laboratories from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $114.44.

In related news, SVP Michael J. Pederson sold 23,008 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $98.00, for a total transaction of $2,254,784.00. Following the completion of the transaction, the senior vice president now directly owns 96,899 shares in the company, valued at approximately $9,496,102. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the transaction, the executive vice president now owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,771 shares of company stock valued at $12,220,943. Corporate insiders own 1.70% of the company’s stock.

NYSE ABT opened at $109.67 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $106.58 and a 200 day simple moving average of $96.39. The company has a market cap of $194.17 billion, a P/E ratio of 63.39, a P/E/G ratio of 3.06 and a beta of 0.92. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.15. The business had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $6.85 billion. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. Abbott Laboratories’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. Equities research analysts forecast that Abbott Laboratories will post 3.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s payout ratio is currently 44.44%.

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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