Level Four Advisory Services LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 6.5% during the first quarter, Holdings Channel reports. The institutional investor owned 18,250 shares of the healthcare product maker’s stock after selling 1,273 shares during the period. Level Four Advisory Services LLC’s holdings in Abbott Laboratories were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cypress Capital Management LLC WY boosted its position in 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 period. Feltz Wealth PLAN Inc. purchased a new position in Abbott Laboratories during the first quarter valued at $112,000. First Command Financial Services Inc. boosted its position in 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 period. Atwood & Palmer Inc. boosted its position in 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 period. Finally, Independent Portfolio Consultants Inc. boosted its position in 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 period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Abbott Laboratories (NYSE ABT) traded up 1.00% on Friday, reaching $48.54. 3,978,902 shares of the company’s stock were exchanged. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13. The firm’s 50 day moving average price is $49.09 and its 200 day moving average price is $45.65. The company has a market cap of $84.34 billion, a PE ratio of 67.98 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. On average, analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/12/level-four-advisory-services-llc-has-800000-position-in-abbott-laboratories-abt.html.

Several research analysts recently weighed in on the stock. UBS AG restated a “neutral” rating and set a $41.00 price target on shares of Abbott Laboratories in a report on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. BidaskClub cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $51.93.

In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the sale, the insider now owns 47,090 shares in the company, valued at approximately $2,258,907.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the sale, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The disclosure for this sale can be found here. In the last three months, insiders sold 218,702 shares of company stock worth $10,149,733. 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.

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.