Supplemental Annuity Collective Trust of NJ maintained its position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,899 shares of the healthcare product maker’s stock at the close of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in Abbott Laboratories were worth $1,016,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its stake in Abbott Laboratories by 6.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 55,241 shares of the healthcare product maker’s stock valued at $2,685,000 after buying an additional 3,455 shares during the period. Grove Bank & Trust increased its stake in Abbott Laboratories by 40.4% in the 2nd quarter. Grove Bank & Trust now owns 20,442 shares of the healthcare product maker’s stock valued at $993,000 after buying an additional 5,882 shares during the period. Stewart & Patten Co. LLC increased its stake in Abbott Laboratories by 1.8% in the 2nd quarter. Stewart & Patten Co. LLC now owns 306,771 shares of the healthcare product maker’s stock valued at $14,913,000 after buying an additional 5,571 shares during the period. Bessemer Group Inc. increased its stake in Abbott Laboratories by 12.3% in the 2nd quarter. Bessemer Group Inc. now owns 55,874 shares of the healthcare product maker’s stock valued at $2,716,000 after buying an additional 6,131 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL increased its stake in Abbott Laboratories by 1.8% in the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 33,894 shares of the healthcare product maker’s stock valued at $1,648,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 71.50% of the company’s stock.

Several research analysts have weighed in on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reiterated a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Wells Fargo & Company reiterated an “outperform” rating and issued a $54.00 price objective (up previously from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. J P Morgan Chase & Co started coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Barclays PLC reiterated an “overweight” rating and issued a $57.00 price objective (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $54.94.

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Abbott Laboratories (NYSE:ABT) opened at 54.44 on Thursday. The company has a 50-day moving average of $52.20 and a 200-day moving average of $48.00. The firm has a market capitalization of $94.59 billion, a price-to-earnings ratio of 76.25 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $55.43.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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 business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current 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 issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.95%. Abbott Laboratories’s payout ratio is 149.30%.

In related news, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the transaction, the insider now directly owns 143,154 shares in the company, valued at $7,157,700. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the transaction, the insider now owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 333,310 shares of company stock worth $16,857,255. 0.76% of the stock is owned by corporate insiders.

Abbott Laboratories 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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