Sii Investments Inc. WI lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 11.5% during the first quarter, Holdings Channel reports. The firm owned 16,428 shares of the healthcare product maker’s stock after selling 2,142 shares during the period. Sii Investments Inc. WI’s holdings in Abbott Laboratories were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Janney Capital Management LLC boosted its stake in shares of Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after buying an additional 26 shares during the period. Pure Financial Advisors Inc. boosted its position in Abbott Laboratories by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 11,004 shares of the healthcare product maker’s stock worth $489,000 after buying an additional 45 shares during the period. Delta Asset Management LLC TN boosted its position in Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 51 shares during the period. Alexandria Capital LLC boosted its position in Abbott Laboratories by 0.5% in the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock worth $503,000 after buying an additional 56 shares during the period. Finally, Burns J W & Co. Inc. NY boosted its position in Abbott Laboratories by 0.3% in the first quarter. Burns J W & Co. Inc. NY now owns 20,946 shares of the healthcare product maker’s stock worth $930,000 after buying an additional 57 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories (NYSE:ABT) traded up 1.00% during midday trading on Friday, hitting $48.54. 3,978,902 shares of the company were exchanged. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13. The firm has a market capitalization of $84.34 billion, a PE ratio of 67.98 and a beta of 1.07. The stock has a 50 day moving average of $49.09 and a 200 day moving average of $45.65.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.18%. Abbott Laboratories’s payout ratio is 149.30%.

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A number of equities analysts have recently issued reports on ABT shares. Wells Fargo & Company reissued an “outperform” rating and set a $54.00 price objective (up previously from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Tuesday, May 16th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Barclays PLC reissued an “overweight” rating and set a $57.00 price objective (up previously from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Finally, BMO Capital Markets reissued a “hold” rating and set a $48.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $51.93.

In other news, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Insiders have sold 218,702 shares of company stock valued at $10,149,733 over the last three months. 0.76% of the stock is owned by corporate 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.

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

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