CNA Financial Corp cut its stake in Abbott Laboratories (NYSE:ABT) by 40.2% during the first quarter, Holdings Channel reports. The firm owned 20,625 shares of the healthcare product maker’s stock after selling 13,875 shares during the period. CNA Financial Corp’s holdings in Abbott Laboratories were worth $916,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after buying an additional 12,806,535 shares during the period. Boston Partners raised its stake in Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after buying an additional 8,069,557 shares during the period. Bank of New York Mellon Corp raised its stake in Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after buying an additional 3,344,508 shares during the period. Ameriprise Financial Inc. raised its stake in Abbott Laboratories by 33.8% in the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after buying an additional 2,231,316 shares during the period. Finally, Swiss National Bank raised its stake in Abbott Laboratories by 45.3% in the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock valued at $289,943,000 after buying an additional 2,035,170 shares during the period. Institutional investors own 70.98% of the company’s stock.

Shares of Abbott Laboratories (ABT) traded up 1.00% during midday trading on Friday, reaching $48.54. 3,978,902 shares of the company’s stock traded hands. The company has a 50 day moving average of $49.09 and a 200 day moving average of $45.65. The firm has a market cap of $84.34 billion, a PE ratio of 67.98 and a beta of 1.07. Abbott Laboratories has a 52-week low of $37.38 and a 52-week 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 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

The firm 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 dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.18%. Abbott Laboratories’s payout ratio is 149.30%.

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ABT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, May 16th. TheStreet lowered shares of Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Barclays PLC increased their target price on shares of Abbott Laboratories from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $42.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 19th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $48.00 target price on shares of Abbott Laboratories in a report on Saturday, April 22nd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $52.08.

In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following 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 accessible through this link. Also, insider Jared Watkin sold 552 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,702 shares of company stock worth $10,149,733. Corporate 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.

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

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