Gateway Investment Advisers LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,114,561 shares of the healthcare product maker’s stock after selling 23,173 shares during the period. Gateway Investment Advisers LLC owned 0.06% of Abbott Laboratories worth $54,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Abbott Laboratories by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after buying an additional 3,344,508 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Abbott Laboratories by 33.8% in the 1st quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after buying an additional 2,231,316 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Abbott Laboratories by 20.1% in the 1st quarter. Legal & General Group Plc now owns 8,550,357 shares of the healthcare product maker’s stock worth $379,731,000 after buying an additional 1,433,093 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Abbott Laboratories by 5,663.7% in the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after buying an additional 8,069,557 shares during the last quarter. Institutional investors own 71.50% of the company’s stock.

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In other news, insider Stephen R. Fussell sold 196,550 shares of the business’s 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the sale, the insider now directly owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold 218,150 shares of company stock worth $10,811,179 over the last three months. Corporate insiders own 0.76% of the company’s stock.

ABT has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Jefferies Group LLC restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Friday, June 16th. BidaskClub upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Finally, BTIG Research initiated coverage on Abbott Laboratories in a research note on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $52.71.

Abbott Laboratories (NYSE:ABT) traded up 0.46% during trading on Tuesday, hitting $52.85. The stock had a trading volume of 3,234,097 shares. The firm has a market cap of $91.82 billion, a PE ratio of 74.02 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $53.30. The company’s 50 day moving average is $50.14 and its 200 day moving average is $47.04.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $0.55 earnings per share. Equities research analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

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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