Eads & Heald Investment Counsel trimmed its stake in Abbott Laboratories (NYSE:ABT) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,753 shares of the healthcare product maker’s stock after selling 730 shares during the period. Eads & Heald Investment Counsel’s holdings in Abbott Laboratories were worth $1,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABT. Winfield Associates Inc. grew its position in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares during the last quarter. V Wealth Management LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at $127,000. JFS Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares during the last quarter. Atwood & Palmer Inc. grew its position in shares of Abbott Laboratories by 157.5% in the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 2,000 shares during the last quarter. Finally, Farmers National Bank grew its position in shares of Abbott Laboratories by 1.5% in the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after buying an additional 52 shares during the last quarter. 71.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on ABT. Barclays PLC increased their target price on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research report on Monday, October 2nd. BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $54.94.

In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at approximately $6,005,906.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. Insiders have sold 333,310 shares of company stock valued at $16,857,255 in the last 90 days. Insiders own 0.76% of the company’s stock.

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Shares of Abbott Laboratories (ABT) opened at 54.63 on Tuesday. The firm has a market cap of $94.92 billion, a PE ratio of 76.51 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $55.43. The stock has a 50 day moving average of $52.59 and a 200 day moving average of $48.17.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during 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 company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is currently 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.

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

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