Weiss Multi Strategy Advisers LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 5,232 shares of the healthcare product maker’s stock after selling 9 shares during the period. Weiss Multi Strategy Advisers LLC’s holdings in Abbott Laboratories were worth $232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cypress Capital Management LLC WY raised its position in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. acquired a new position in shares of Abbott Laboratories during the first quarter valued at $112,000. First Command Financial Services Inc. raised its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares during the last quarter. Atwood & Palmer Inc. raised its position in shares of Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 2,000 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. raised its position in shares of Abbott Laboratories by 9.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock valued at $152,000 after buying an additional 292 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded up 1.196% during mid-day trading on Friday, hitting $48.635. The stock had a trading volume of 1,183,157 shares. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13. The company’s 50 day moving average price is $49.11 and its 200 day moving average price is $45.60. The stock has a market cap of $84.50 billion, a P/E ratio of 68.116 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

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

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

In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the transaction, the insider now owns 47,090 shares in the company, valued at approximately $2,258,907.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares in the company, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. Insiders sold a total of 218,702 shares of company stock worth $10,149,733 in the last quarter. 0.76% of the stock is currently owned by company 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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