Gofen & Glossberg LLC IL trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 463,675 shares of the healthcare product maker’s stock after selling 6,202 shares during the period. Abbott Laboratories accounts for about 0.9% of Gofen & Glossberg LLC IL’s holdings, making the stock its 29th largest position. Gofen & Glossberg LLC IL’s holdings in Abbott Laboratories were worth $26,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABT. Washington Capital Management Inc. boosted its position in shares of Abbott Laboratories by 4.5% during the 2nd quarter. Washington Capital Management Inc. now owns 18,720 shares of the healthcare product maker’s stock valued at $910,000 after acquiring an additional 800 shares in the last quarter. Kanawha Capital Management LLC boosted its position in shares of Abbott Laboratories by 0.9% during the 2nd quarter. Kanawha Capital Management LLC now owns 170,970 shares of the healthcare product maker’s stock valued at $8,311,000 after acquiring an additional 1,523 shares in the last quarter. Sei Investments Co. boosted its position in shares of Abbott Laboratories by 2.3% during the 2nd quarter. Sei Investments Co. now owns 539,622 shares of the healthcare product maker’s stock valued at $26,231,000 after acquiring an additional 12,207 shares in the last quarter. YHB Investment Advisors Inc. boosted its position in shares of Abbott Laboratories by 0.9% during the 2nd quarter. YHB Investment Advisors Inc. now owns 34,432 shares of the healthcare product maker’s stock valued at $1,674,000 after acquiring an additional 300 shares in the last quarter. Finally, United Bank boosted its position in shares of Abbott Laboratories by 10.8% during the 2nd quarter. United Bank now owns 29,366 shares of the healthcare product maker’s stock valued at $1,427,000 after acquiring an additional 2,871 shares in the last quarter. Institutional investors own 70.61% of the company’s stock.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the transaction, the insider now directly owns 144,955 shares of the company’s stock, valued at $7,972,525. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian J. Blaser sold 23,866 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.55, for a total transaction of $1,325,756.30. Following the completion of the transaction, the insider now directly owns 146,387 shares of the company’s stock, valued at $8,131,797.85. The disclosure for this sale can be found here. Insiders have sold a total of 445,615 shares of company stock valued at $24,666,341 over the last three months. 0.76% of the stock is currently owned by insiders.

Several analysts have recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $72.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. BMO Capital Markets lifted their target price on shares of Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Bank of America lifted their target price on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on shares of Abbott Laboratories from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.47.

Abbott Laboratories (NYSE:ABT) opened at $57.17 on Monday. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The stock has a market cap of $99,510.16, a PE ratio of 22.87, a P/E/G ratio of 1.72 and a beta of 1.55. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same period last year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. equities analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 430.79%.

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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.

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

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