Beck Mack & Oliver LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,610,097 shares of the healthcare product maker’s stock after selling 22,890 shares during the period. Abbott Laboratories comprises 2.6% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 13th largest position. Beck Mack & Oliver LLC owned 0.09% of Abbott Laboratories worth $78,267,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABT. Abner Herrman & Brock LLC lifted its position in Abbott Laboratories by 4.2% during the first quarter. Abner Herrman & Brock LLC now owns 190,017 shares of the healthcare product maker’s stock valued at $8,439,000 after buying an additional 7,725 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in Abbott Laboratories by 69.0% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 24,163 shares of the healthcare product maker’s stock valued at $1,073,000 after buying an additional 9,864 shares in the last quarter. Diversified Trust Co lifted its position in Abbott Laboratories by 3.7% during the first quarter. Diversified Trust Co now owns 14,427 shares of the healthcare product maker’s stock valued at $641,000 after buying an additional 520 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in Abbott Laboratories by 45.8% during the first quarter. Candriam Luxembourg S.C.A. now owns 625,064 shares of the healthcare product maker’s stock valued at $27,760,000 after buying an additional 196,395 shares in the last quarter. Finally, Loeb Partners Corp acquired a new position in Abbott Laboratories during the first quarter valued at approximately $1,363,000. 71.50% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have weighed in on ABT. Cowen and Company reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Sunday. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Friday. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a research report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $52.71.

Shares of Abbott Laboratories (NYSE:ABT) opened at 52.61 on Tuesday. The company has a 50 day moving average of $50.14 and a 200-day moving average of $47.04. The company has a market cap of $91.41 billion, a price-to-earnings ratio of 73.68 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $52.78.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Abbott Laboratories’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 2.02%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.

In related news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,150 shares of company stock valued at $10,811,179. 0.76% of the stock is owned by company insiders.

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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