Eagle Asset Management Inc. decreased its stake in Abbott Laboratories (NYSE:ABT) by 1.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,896,795 shares of the healthcare product maker’s stock after selling 25,983 shares during the period. Eagle Asset Management Inc. owned 0.11% of Abbott Laboratories worth $84,236,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ABT. Bank of New York Mellon Corp boosted its position in Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after buying an additional 3,344,508 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Abbott Laboratories by 33.8% in the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after buying an additional 2,231,316 shares in the last quarter. Boston Partners boosted its position in Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after buying an additional 8,069,557 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Abbott Laboratories by 13.5% in the first quarter. UBS Asset Management Americas Inc. now owns 7,406,236 shares of the healthcare product maker’s stock valued at $328,911,000 after buying an additional 881,235 shares in the last quarter. Finally, Swiss National Bank boosted its position in Abbott Laboratories by 45.3% in the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock valued at $289,943,000 after buying an additional 2,035,170 shares in the last quarter. 71.64% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories (ABT) traded up 0.75% on Monday, reaching $49.72. 911,885 shares of the company were exchanged. The firm has a market capitalization of $86.39 billion, a P/E ratio of 69.64 and a beta of 1.07. The firm has a 50-day moving average of $49.25 and a 200 day moving average of $46.20. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s payout ratio is presently 149.30%.

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Several equities analysts have commented on ABT shares. Jefferies Group LLC reissued a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Cowen and Company reissued a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Finally, Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.14.

In related news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider now directly owns 143,154 shares of the company’s stock, valued at approximately $7,157,700. The disclosure for this sale can be found here. In the last three months, insiders sold 415,252 shares of company stock valued at $19,878,958. 0.76% of the stock is owned by insiders.

Abbott Laboratories Company Profile

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.

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

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