Executive Wealth Management LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,503 shares of the healthcare product maker’s stock after buying an additional 4,109 shares during the period. Executive Wealth Management LLC’s holdings in Abbott Laboratories were worth $4,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its position in Abbott Laboratories by 91.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock valued at $122,138,000 after buying an additional 694,262 shares during the last quarter. Krueger & Catalano Capital Partners LLC bought a new position in Abbott Laboratories in the 1st quarter valued at $244,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Abbott Laboratories by 3.8% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after buying an additional 116 shares during the last quarter. FMR LLC boosted its position in Abbott Laboratories by 0.3% in the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after buying an additional 65,260 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its position in Abbott Laboratories by 2.5% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after buying an additional 1,514 shares during the last quarter. 73.42% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on ABT shares. Jefferies Financial Group increased their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Friday, June 7th. Bank of America reiterated a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 13th. Raymond James increased their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, BMO Capital Markets increased their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $85.82.

In other news, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $86.39, for a total value of $1,987,661.12. Following the transaction, the senior vice president now owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the transaction, the insider now directly owns 295,745 shares in the company, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. In the last three months, insiders sold 885,102 shares of company stock worth $71,110,429. 0.70% of the stock is currently owned by company insiders.

Shares of ABT stock traded up $0.18 during trading hours on Thursday, reaching $84.12. The company had a trading volume of 115,984 shares, compared to its average volume of 5,327,106. The firm’s 50 day simple moving average is $85.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The firm has a market capitalization of $149.58 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Abbott Laboratories has a 1-year low of $63.07 and a 1-year high of $88.76.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. On average, equities analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

Abbott Laboratories Company 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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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