Searle & CO. cut its stake in Abbott Laboratories (NYSE:ABT) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 11,010 shares of the healthcare product maker’s stock after selling 69 shares during the period. Searle & CO.’s holdings in Abbott Laboratories were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Curbstone Financial Management Corp boosted its position in shares of Abbott Laboratories by 57.5% in the first quarter. Curbstone Financial Management Corp now owns 19,180 shares of the healthcare product maker’s stock valued at $852,000 after buying an additional 6,999 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Abbott Laboratories by 19.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,611,080 shares of the healthcare product maker’s stock valued at $71,546,000 after buying an additional 258,152 shares during the period. Bridges Investment Management Inc. boosted its position in shares of Abbott Laboratories by 14.2% in the first quarter. Bridges Investment Management Inc. now owns 38,002 shares of the healthcare product maker’s stock valued at $1,687,000 after buying an additional 4,725 shares during the period. McQueen Ball & Associates Inc. boosted its position in shares of Abbott Laboratories by 0.4% in the first quarter. McQueen Ball & Associates Inc. now owns 46,104 shares of the healthcare product maker’s stock valued at $2,047,000 after buying an additional 197 shares during the period. Finally, Foundry Partners LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at about $12,572,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.06% during mid-day trading on Monday, reaching $49.29. 837,048 shares of the company traded hands. The firm has a market capitalization of $85.53 billion, a price-to-earnings ratio of 69.03 and a beta of 1.07. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13. The firm has a 50-day moving average price of $48.97 and a 200 day moving average price of $45.28.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the firm posted $0.55 EPS. Abbott Laboratories’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

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A number of analysts have recently commented on ABT shares. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and issued a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. BidaskClub lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $51.93.

In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Blaser sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. Following the transaction, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,149,733 over the last three months. 0.76% of the stock is currently owned by insiders.

About Abbott Laboratories

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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