Mitchell Sinkler & Starr PA maintained its position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, Holdings Channel reports. The fund owned 22,722 shares of the healthcare product maker’s stock at the end of the second quarter. Abbott Laboratories accounts for about 1.8% of Mitchell Sinkler & Starr PA’s holdings, making the stock its 20th largest position. Mitchell Sinkler & Starr PA’s holdings in Abbott Laboratories were worth $1,105,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABT. West Oak Capital LLC raised its position in shares of Abbott Laboratories by 7.6% in the first quarter. West Oak Capital LLC now owns 40,620 shares of the healthcare product maker’s stock valued at $1,804,000 after buying an additional 2,865 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of Abbott Laboratories by 15.8% in the first quarter. Fulton Bank N.A. now owns 26,295 shares of the healthcare product maker’s stock worth $1,168,000 after buying an additional 3,594 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Abbott Laboratories by 26.3% in the first quarter. Manning & Napier Advisors LLC now owns 194,870 shares of the healthcare product maker’s stock worth $8,653,000 after buying an additional 40,598 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Abbott Laboratories by 3.3% in the first quarter. CENTRAL TRUST Co now owns 173,579 shares of the healthcare product maker’s stock worth $7,708,000 after buying an additional 5,472 shares during the last quarter. Finally, Pure Financial Advisors Inc. increased its stake in shares of Abbott Laboratories by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 11,004 shares of the healthcare product maker’s stock worth $489,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded up 1.134% during midday trading on Friday, reaching $48.605. The company’s stock had a trading volume of 1,995,842 shares. The company has a market cap of $84.45 billion, a P/E ratio of 68.074 and a beta of 1.07. The stock’s 50-day moving average price is $49.11 and its 200-day moving average price is $45.60. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. On average, analysts expect that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.21%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/08/11/mitchell-sinkler-starr-pa-has-1105000-stake-in-abbott-laboratories-nyseabt.html.

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research report on Friday, June 16th. BTIG Research assumed coverage on Abbott Laboratories in a research report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price objective on the stock. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, June 14th. Finally, BidaskClub raised Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $51.93.

In related news, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,702 shares of company stock valued at $10,149,733. Insiders own 0.76% of the company’s stock.

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.