Shamrock Asset Management LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 3.6% during the first quarter, Holdings Channel reports. The firm owned 14,578 shares of the healthcare product maker’s stock after selling 546 shares during the period. Shamrock Asset Management LLC’s holdings in Abbott Laboratories were worth $644,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pointe Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $310,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $235,000. Achmea Investment Management B.V. acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $6,047,000. J.P. Marvel Investment Advisors LLC raised its stake in shares of Abbott Laboratories by 9.4% in the first quarter. J.P. Marvel Investment Advisors LLC now owns 57,493 shares of the healthcare product maker’s stock worth $2,553,000 after buying an additional 4,950 shares during the period. Finally, North Star Asset Management Inc. raised its stake in shares of Abbott Laboratories by 1.6% in the first quarter. North Star Asset Management Inc. now owns 251,269 shares of the healthcare product maker’s stock worth $11,159,000 after buying an additional 4,004 shares during the period. Institutional investors own 70.86% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) traded up 1.751% during midday trading on Wednesday, reaching $49.675. The company’s stock had a trading volume of 1,680,166 shares. The firm has a market capitalization of $86.31 billion, a PE ratio of 69.573 and a beta of 1.07. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13. The company’s 50-day moving average price is $49.09 and its 200 day moving average price is $45.85.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the firm earned $0.55 EPS. Abbott Laboratories’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities research analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

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A number of analysts have issued reports on the stock. BidaskClub lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Barclays PLC reiterated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $52.08.

In other news, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now owns 47,090 shares in the company, valued at approximately $2,258,907.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hubert L. Allen sold 4,600 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,702 shares of company stock valued at $10,149,733. 0.76% of the stock is owned by insiders.

About Abbott Laboratories

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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