Norris Perne & French LLP MI lowered its stake in Abbott Laboratories (NYSE:ABT) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,952 shares of the healthcare product maker’s stock after selling 2,807 shares during the period. Abbott Laboratories comprises approximately 2.1% of Norris Perne & French LLP MI’s portfolio, making the stock its 11th largest position. Norris Perne & French LLP MI’s holdings in Abbott Laboratories were worth $10,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rockefeller Financial Services Inc. increased its stake in shares of Abbott Laboratories by 5.2% in the second quarter. Rockefeller Financial Services Inc. now owns 241,434 shares of the healthcare product maker’s stock worth $9,491,000 after buying an additional 11,997 shares during the last quarter. Capital City Trust Co. FL increased its stake in shares of Abbott Laboratories by 4.2% in the second quarter. Capital City Trust Co. FL now owns 8,606 shares of the healthcare product maker’s stock worth $338,000 after buying an additional 347 shares during the last quarter. Rockland Trust Co. increased its stake in shares of Abbott Laboratories by 15.9% in the second quarter. Rockland Trust Co. now owns 69,882 shares of the healthcare product maker’s stock worth $2,747,000 after buying an additional 9,562 shares during the last quarter. Bollard Group LLC increased its stake in shares of Abbott Laboratories by 5,873.3% in the second quarter. Bollard Group LLC now owns 108,834 shares of the healthcare product maker’s stock worth $4,278,000 after buying an additional 107,012 shares during the last quarter. Finally, Perkins Capital Management Inc. increased its stake in shares of Abbott Laboratories by 7.9% in the second quarter. Perkins Capital Management Inc. now owns 26,075 shares of the healthcare product maker’s stock worth $1,025,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

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

Shares of Abbott Laboratories (NYSE:ABT) opened at 40.72 on Friday. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $45.79. The stock has a market cap of $59.95 billion, a PE ratio of 44.45 and a beta of 0.92. The company’s 50-day moving average price is $38.96 and its 200 day moving average price is $41.12.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. The business earned $5.30 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post $2.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.26. Abbott Laboratories’s dividend payout ratio (DPR) is 116.48%.

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Several equities analysts have weighed in on ABT shares. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Bank of America Corporation reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Monday, September 19th. Jefferies Group reaffirmed a “buy” rating and issued a $46.00 target price on shares of Abbott Laboratories in a research report on Tuesday, December 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research report on Monday, September 19th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $46.36.

In related news, Director Sally E. Blount bought 5,100 shares of the stock in a transaction dated Tuesday, November 1st. The stock was acquired at an average price of $39.24 per share, for a total transaction of $200,124.00. Following the completion of the purchase, the director now owns 20,143 shares in the company, valued at $790,411.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Blaser bought 15,580 shares of the stock in a transaction dated Tuesday, December 20th. The stock was bought at an average price of $38.45 per share, with a total value of $599,051.00. Following the purchase, the insider now owns 129,782 shares of the company’s stock, valued at approximately $4,990,117.90. The disclosure for this purchase can be found here. 0.26% of the stock is owned by insiders.

Abbott Laboratories Company Profile

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

5 Day Chart for NYSE:ABT

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