Burns J W & Co. Inc. NY reduced its holdings in Abbott Laboratories (NYSE:ABT) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,921 shares of the healthcare product maker’s stock after selling 25 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Abbott Laboratories were worth $1,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cypress Capital Management LLC WY increased its stake in Abbott Laboratories by 37.9% in the 1st quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after acquiring an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $112,000. Atwood & Palmer Inc. boosted its holdings in shares of Abbott Laboratories by 157.5% in the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after purchasing an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its holdings in shares of Abbott Laboratories by 9.3% in the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after purchasing an additional 292 shares in the last quarter. Finally, Farmers National Bank boosted its holdings in shares of Abbott Laboratories by 1.5% in the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.

In related news, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the sale, the insider now owns 143,154 shares in the company, valued at $7,157,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders sold 218,150 shares of company stock valued at $10,811,179 in the last quarter. 0.76% of the stock is owned by company insiders.

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Abbott Laboratories (ABT) traded up 0.14% on Friday, reaching $51.76. The company’s stock had a trading volume of 6,699,659 shares. The company has a market capitalization of $89.93 billion, a PE ratio of 72.49 and a beta of 1.06. The firm has a 50-day moving average of $50.01 and a 200-day moving average of $46.93. Abbott Laboratories has a one year low of $37.38 and a one year high of $52.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s payout ratio is 149.30%.

A number of equities analysts have recently issued reports on ABT shares. BidaskClub upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a report on Thursday, June 29th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Friday, May 26th. Stifel Nicolaus upped their price objective on Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $54.00 price objective (up from $47.50) on shares of Abbott Laboratories in a report on Friday, June 30th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $52.50.

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.

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

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