Camber Capital Management LLC cut its position in Abbott Laboratories (NYSE:ABT) by 50.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,000,000 shares of the healthcare product maker’s stock after selling 1,000,000 shares during the period. Abbott Laboratories accounts for about 1.8% of Camber Capital Management LLC’s holdings, making the stock its 17th largest position. Camber Capital Management LLC’s holdings in Abbott Laboratories were worth $44,410,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake 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 worth $1,500,920,000 after buying an additional 3,344,508 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 worth $391,841,000 after buying an additional 2,231,316 shares during the last quarter. Legal & General Group Plc boosted its stake in Abbott Laboratories by 20.1% in the first 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 last quarter. Boston Partners boosted its stake 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 worth $364,696,000 after buying an additional 8,069,557 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake 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 worth $328,911,000 after buying an additional 881,235 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Abbott Laboratories (NYSE ABT) traded down 0.88% on Thursday, hitting $48.34. 580,246 shares of the company were exchanged. The company has a 50 day moving average price of $49.13 and a 200-day moving average price of $45.58. The stock has a market capitalization of $83.99 billion, a P/E ratio of 67.70 and a beta of 1.07. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13.

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

The business also recently declared 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s payout ratio is presently 149.30%.

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A number of equities research analysts have commented on ABT shares. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Cowen and Company restated an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a report on Saturday, April 22nd. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Finally, Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $51.93.

In other news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following 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 accessible through this hyperlink. Also, insider Brian J. Blaser sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the sale, the insider now directly owns 143,154 shares in the company, valued at approximately $7,157,700. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,702 shares of company stock worth $10,149,733. Insiders own 0.76% of the company’s stock.

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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