Marshwinds Advisory Co. boosted its stake in Abbott Laboratories (NYSE:ABT) by 0.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,581 shares of the healthcare product maker’s stock after purchasing an additional 5 shares during the quarter. Abbott Laboratories comprises 1.5% of Marshwinds Advisory Co.’s investment portfolio, making the stock its 24th biggest position. Marshwinds Advisory Co.’s holdings in Abbott Laboratories were worth $3,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. raised its stake in Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after purchasing an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in 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 valued at $152,000 after purchasing an additional 292 shares in the last quarter. Farmers National Bank raised its stake 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 valued at $158,000 after purchasing an additional 52 shares in the last quarter. Advantage Investment Management LLC raised its stake in Abbott Laboratories by 17.3% in the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after purchasing an additional 543 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its stake 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 valued at $178,000 after purchasing an additional 51 shares in the last quarter. 71.50% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Marshwinds Advisory Co. Has $3.24 Million Position in Abbott Laboratories (ABT)” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/09/25/marshwinds-advisory-co-has-3-24-million-position-in-abbott-laboratories-abt.html.

In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now directly 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 ninety days, insiders sold 218,150 shares of company stock worth $10,811,179. Insiders own 0.76% of the company’s stock.

A number of research analysts recently commented on the company. Cowen and Company reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Sunday. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a research note on Friday, September 1st. Citigroup Inc. assumed coverage on Abbott Laboratories in a research note on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target for the company. Finally, BidaskClub downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $52.71.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the 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 firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was up 24.5% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders 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 annualized dividend and a dividend yield of 2.02%. Abbott Laboratories’s payout ratio is currently 149.30%.

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)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.