Donaldson Capital Management LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 2.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 61,447 shares of the healthcare product maker’s stock after selling 1,410 shares during the quarter. Donaldson Capital Management LLC’s holdings in Abbott Laboratories were worth $4,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stone Ridge Asset Management LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at approximately $7,424,000. Smith Salley & Associates grew its stake in Abbott Laboratories by 2.9% in the 3rd quarter. Smith Salley & Associates now owns 141,216 shares of the healthcare product maker’s stock valued at $10,359,000 after buying an additional 4,011 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Abbott Laboratories by 1.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 656,982 shares of the healthcare product maker’s stock valued at $48,196,000 after buying an additional 11,170 shares in the last quarter. Marble Harbor Investment Counsel LLC grew its stake in Abbott Laboratories by 0.3% in the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 261,739 shares of the healthcare product maker’s stock valued at $19,201,000 after buying an additional 814 shares in the last quarter. Finally, Sentry Investment Management LLC grew its stake in Abbott Laboratories by 0.9% in the 3rd quarter. Sentry Investment Management LLC now owns 117,780 shares of the healthcare product maker’s stock valued at $8,640,000 after buying an additional 1,104 shares in the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.

In other news, SVP Sharon J. Bracken sold 1,732 shares of Abbott Laboratories stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the completion of the sale, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at approximately $2,877,447.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jared Watkin sold 65,000 shares of Abbott Laboratories stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the sale, the insider now directly owns 128,640 shares of the company’s stock, valued at $9,133,440. The disclosure for this sale can be found here. Insiders have sold a total of 203,297 shares of company stock valued at $14,018,743 over the last ninety days. 0.74% of the stock is currently owned by insiders.

Shares of NYSE:ABT opened at $72.04 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a one year low of $54.32 and a one year high of $74.15. The firm has a market capitalization of $126.53 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 2.14 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

ABT has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Tuesday, September 18th. Barclays initiated coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Royal Bank of Canada raised their price target on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 11th. Finally, Raymond James raised their price target on shares of Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $75.22.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Further Reading: Institutional Investors

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

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