Butensky & Cohen Financial Security Inc. lowered its position in Abbott Laboratories (NYSE:ABT) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,352 shares of the healthcare product maker’s stock after selling 620 shares during the period. Abbott Laboratories comprises 1.6% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 27th largest position. Butensky & Cohen Financial Security Inc.’s holdings in Abbott Laboratories were worth $1,816,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABT. Cypress Capital Management LLC WY increased its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in Abbott Laboratories during the first quarter worth approximately $112,000. First Command Financial Services Inc. increased its stake in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock worth $124,000 after buying an additional 257 shares during the period. V Wealth Management LLC purchased a new stake in Abbott Laboratories during the second quarter worth approximately $127,000. Finally, Atwood & Palmer Inc. increased its stake in Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after buying an additional 2,000 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories (NYSE ABT) traded up 1.134% during mid-day trading on Friday, hitting $48.605. The stock had a trading volume of 1,995,842 shares. The stock has a 50-day moving average price of $49.11 and a 200 day moving average price of $45.60. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13. The firm has a market cap of $84.45 billion, a P/E ratio of 68.074 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share 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 the consensus estimate of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. Equities analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.21%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.

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ABT has been the subject of a number of research reports. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $51.00 target price (up previously from $50.00) on shares of Abbott Laboratories in a report on Friday, May 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 target price on shares of Abbott Laboratories in a report on Tuesday, April 18th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $48.00 target price on shares of Abbott Laboratories in a report on Thursday, April 13th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.93.

In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was 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 owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at approximately $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 in the last three months. 0.76% of the stock is currently owned by company 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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