Factory Mutual Insurance Co. maintained its stake in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 592,700 shares of the healthcare product maker’s stock at the close of the 2nd quarter. Factory Mutual Insurance Co.’s holdings in Abbott Laboratories were worth $28,811,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Janney Capital Management LLC boosted its holdings in Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 26 shares during the last quarter. Delta Asset Management LLC TN boosted its holdings in Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after purchasing an additional 51 shares during the last quarter. Farmers National Bank boosted its holdings in Abbott Laboratories by 1.5% in the first 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 during the last quarter. Alexandria Capital LLC boosted its holdings in Abbott Laboratories by 0.5% in the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock worth $503,000 after purchasing an additional 56 shares during the last quarter. Finally, iAB Financial Bank boosted its holdings in Abbott Laboratories by 0.4% in the first quarter. iAB Financial Bank now owns 27,050 shares of the healthcare product maker’s stock worth $1,201,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 71.50% of the company’s stock.

Abbott Laboratories (NYSE:ABT) traded up 0.299% on Monday, hitting $51.915. 1,150,999 shares of the company were exchanged. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $52.60. The firm’s 50 day moving average is $50.01 and its 200 day moving average is $46.93. The company has a market capitalization of $90.20 billion, a P/E ratio of 72.710 and a beta of 1.06.

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 Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid 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 2.04%. Abbott Laboratories’s payout ratio is currently 149.30%.

ABT has been the topic of several research reports. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Guggenheim initiated coverage on shares of Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 target price on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, June 21st. BTIG Research initiated coverage on shares of Abbott Laboratories in a report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $52.50.

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

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.

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

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