Cypress Capital Group lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,222 shares of the healthcare product maker’s stock after selling 1,155 shares during the period. Abbott Laboratories accounts for about 1.8% of Cypress Capital Group’s investment portfolio, making the stock its 14th largest position. Cypress Capital Group’s holdings in Abbott Laboratories were worth $9,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in ABT. Cumberland Partners Ltd increased its position in Abbott Laboratories by 25.0% in the second quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock worth $378,000 after purchasing an additional 900 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Abbott Laboratories by 91.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock valued at $122,138,000 after acquiring an additional 694,262 shares during the last quarter. Cypress Capital Management LLC increased its position in Abbott Laboratories by 2.0% during the second quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock valued at $17,108,000 after acquiring an additional 4,000 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Abbott Laboratories by 3.8% during the second 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 acquiring an additional 116 shares during the last quarter. Finally, Cresset Asset Management LLC increased its position in Abbott Laboratories by 20.7% during the second quarter. Cresset Asset Management LLC now owns 29,187 shares of the healthcare product maker’s stock valued at $2,455,000 after acquiring an additional 5,012 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

In related news, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the sale, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randel William Woodgrift sold 65,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the sale, the insider now directly owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The disclosure for this sale can be found here. Insiders have sold 181,497 shares of company stock valued at $15,701,810 over the last three months. Insiders own 0.70% of the company’s stock.

ABT has been the topic of a number of analyst reports. Cowen boosted their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Raymond James boosted their price objective on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $86.74.

Shares of ABT traded up $0.64 during trading hours on Thursday, reaching $80.14. 4,995,010 shares of the company traded hands, compared to its average volume of 4,002,620. The firm has a market cap of $143.23 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.28 and a beta of 1.13. Abbott Laboratories has a 12-month low of $65.44 and a 12-month high of $88.76. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $83.30 and its 200 day moving average price is $81.65.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio 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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