Buffington Mohr McNeal lifted its holdings in Abbott Laboratories (NYSE:ABT) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,530 shares of the healthcare product maker’s stock after buying an additional 368 shares during the quarter. Abbott Laboratories makes up about 1.4% of Buffington Mohr McNeal’s holdings, making the stock its 22nd biggest holding. Buffington Mohr McNeal’s holdings in Abbott Laboratories were worth $3,428,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares during the period. Bank of New York Mellon Corp grew its position in shares of Abbott Laboratories by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after buying an additional 3,344,508 shares during the period. Ameriprise Financial Inc. grew its position in shares of Abbott Laboratories by 33.8% in the 1st quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after buying an additional 2,231,316 shares during the period. Legal & General Group Plc grew its position in shares of Abbott Laboratories by 20.1% in the 1st quarter. Legal & General Group Plc now owns 8,550,357 shares of the healthcare product maker’s stock worth $379,731,000 after buying an additional 1,433,093 shares during the period. Finally, Boston Partners grew its position in shares of Abbott Laboratories by 5,663.7% in the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after buying an additional 8,069,557 shares during the period. 71.50% of the stock is currently owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the sale, the insider now directly owns 113,426 shares of the company’s stock, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock worth $16,857,255 in the last quarter. 0.76% of the stock is owned by insiders.

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Shares of Abbott Laboratories (NYSE ABT) traded up 1.169% during trading on Thursday, reaching $54.975. 2,511,748 shares of the company were exchanged. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $54.98. The firm’s 50 day moving average is $51.40 and its 200 day moving average is $47.64. The firm has a market capitalization of $95.52 billion, a P/E ratio of 76.996 and a beta of 1.06.

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

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.95%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

A number of research firms have recently weighed in on ABT. Barclays PLC upped their target price on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research report on Monday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $54.40.

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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