Macquarie Group Ltd. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 6.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,425,497 shares of the healthcare product maker’s stock after selling 1,268,555 shares during the period. Abbott Laboratories comprises approximately 1.5% of Macquarie Group Ltd.’s holdings, making the stock its 8th largest position. Macquarie Group Ltd.’s holdings in Abbott Laboratories were worth $818,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Capital Management LLC WY boosted 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 worth $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of Abbott Laboratories during the first quarter worth about $112,000. First Command Financial Services Inc. boosted 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 worth $124,000 after buying an additional 257 shares in the last quarter. Atwood & Palmer Inc. boosted 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 worth $145,000 after buying an additional 2,000 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted 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 worth $152,000 after buying an additional 292 shares in 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 1.00% during mid-day trading on Friday, hitting $48.54. 3,978,902 shares of the stock were exchanged. The stock has a market capitalization of $84.34 billion, a P/E ratio of 67.98 and a beta of 1.07. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13. The stock’s 50 day moving average price is $49.09 and its 200-day moving average price is $45.65.

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, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter last year, the firm posted $0.55 EPS. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts expect that Abbott Laboratories will post $2.49 EPS for the current fiscal 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 given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is currently 149.30%.

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A number of brokerages recently issued reports on ABT. UBS AG restated a “neutral” rating and set a $41.00 price objective 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 objective 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 reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $52.08.

In related news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction on 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 owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction 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 completion of the sale, the insider now directly owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last three months, insiders sold 218,702 shares of company stock valued at $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.

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

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