West Oak Capital LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,796 shares of the healthcare product maker’s stock after selling 824 shares during the quarter. Abbott Laboratories accounts for about 1.2% of West Oak Capital LLC’s investment portfolio, making the stock its 20th largest holding. West Oak Capital LLC’s holdings in Abbott Laboratories were worth $1,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABT. Conestoga Capital Advisors LLC grew its stake in shares of Abbott Laboratories by 3.2% in the first quarter. Conestoga Capital Advisors LLC now owns 9,223 shares of the healthcare product maker’s stock worth $410,000 after acquiring an additional 283 shares during the period. Coastline Trust Co grew its stake in shares of Abbott Laboratories by 68.1% in the first quarter. Coastline Trust Co now owns 19,512 shares of the healthcare product maker’s stock worth $866,000 after acquiring an additional 7,907 shares during the period. Boston Advisors LLC grew its stake in shares of Abbott Laboratories by 0.3% in the first quarter. Boston Advisors LLC now owns 76,015 shares of the healthcare product maker’s stock worth $3,376,000 after acquiring an additional 205 shares during the period. Everence Capital Management Inc. grew its stake in shares of Abbott Laboratories by 12.9% in the first quarter. Everence Capital Management Inc. now owns 51,251 shares of the healthcare product maker’s stock worth $2,276,000 after acquiring an additional 5,849 shares during the period. Finally, Perkins Capital Management Inc. grew its stake in shares of Abbott Laboratories by 197.6% in the first quarter. Perkins Capital Management Inc. now owns 83,546 shares of the healthcare product maker’s stock worth $3,710,000 after acquiring an additional 55,471 shares during the period. Hedge funds and other institutional investors own 71.66% of the company’s stock.

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A number of brokerages have recently commented on ABT. Citigroup Inc. began coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target for the company. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. BidaskClub lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.50.

Shares of Abbott Laboratories (ABT) traded up 0.04% during mid-day trading on Friday, reaching $51.71. 2,996,399 shares of the company traded hands. The firm has a market capitalization of $89.84 billion, a price-to-earnings ratio of 72.42 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $52.60. The firm has a 50-day moving average price of $49.96 and a 200 day moving average price of $46.88.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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 company 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 earned $0.55 EPS. Abbott Laboratories’s quarterly revenue was up 24.5% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.

In related news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now owns 105,479 shares in the company, valued at approximately $5,357,278.41. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the transaction, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,150 shares of company stock worth $10,811,179. 0.76% of the stock is owned by corporate 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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