BTIM Corp. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 14.6% during the second quarter, Holdings Channel reports. The fund owned 51,660 shares of the healthcare product maker’s stock after selling 8,854 shares during the period. BTIM Corp.’s holdings in Abbott Laboratories were worth $2,511,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Sanders Morris Harris LLC increased its stake in Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after buying an additional 16 shares in the last quarter. Janney Capital Management LLC increased its stake in Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock valued at $276,000 after buying an additional 26 shares in the last quarter. Alpha Windward LLC increased its stake in Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock valued at $264,000 after buying an additional 30 shares in the last quarter. Johanson Financial Advisors Inc. increased its stake in Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after buying an additional 37 shares in the last quarter. Finally, Country Club Trust Company n.a. increased its stake in Abbott Laboratories by 0.5% in the second quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock valued at $356,000 after buying an additional 38 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Abbott Laboratories (NYSE:ABT) traded down 0.28% during mid-day trading on Tuesday, hitting $49.16. 1,122,401 shares of the stock traded hands. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13. The company has a 50-day moving average of $48.97 and a 200 day moving average of $45.28. The firm has a market capitalization of $85.31 billion, a P/E ratio of 68.85 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a return on equity of 3.44% and a net margin of 4.07%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.265 dividend. 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 payout ratio is 149.30%.

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Several research firms recently commented on ABT. BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Barclays PLC reiterated an “overweight” rating and set a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $51.93.

In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares in the company, valued at $5,357,278.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the transaction, the insider now owns 143,154 shares of the company’s stock, valued at approximately $7,157,700. The disclosure for this sale can be found here. Insiders sold 218,702 shares of company stock valued at $10,149,733 in the last ninety days. 0.76% of the stock is currently owned by insiders.

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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