Candriam Luxembourg S.C.A. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 58.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,622 shares of the healthcare product maker’s stock after selling 366,442 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Abbott Laboratories were worth $12,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. St. Louis Trust Co grew its stake in shares of Abbott Laboratories by 0.4% in the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after purchasing an additional 20 shares in the last quarter. United Bank grew its stake in shares of Abbott Laboratories by 10.8% in the second quarter. United Bank now owns 29,366 shares of the healthcare product maker’s stock worth $1,427,000 after purchasing an additional 2,871 shares in the last quarter. YHB Investment Advisors Inc. grew its stake in shares of Abbott Laboratories by 0.9% in the second quarter. YHB Investment Advisors Inc. now owns 34,432 shares of the healthcare product maker’s stock worth $1,674,000 after purchasing an additional 300 shares in the last quarter. Sei Investments Co. grew its stake in shares of Abbott Laboratories by 2.3% in the second quarter. Sei Investments Co. now owns 539,622 shares of the healthcare product maker’s stock worth $26,231,000 after purchasing an additional 12,207 shares in the last quarter. Finally, Kanawha Capital Management LLC grew its stake in shares of Abbott Laboratories by 0.9% in the second quarter. Kanawha Capital Management LLC now owns 170,970 shares of the healthcare product maker’s stock worth $8,311,000 after purchasing an additional 1,523 shares in the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.

ABT has been the subject of several recent analyst reports. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. J P Morgan Chase & Co initiated coverage on Abbott Laboratories in a research note on Friday, October 6th. They set a “neutral” rating and a $60.00 target price for the company. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 target price (up previously from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $54.94.

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

Abbott Laboratories (ABT) opened at 54.65 on Monday. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.43. The stock’s 50 day moving average price is $52.59 and its 200-day moving average price is $48.17. The firm has a market cap of $94.95 billion, a price-to-earnings ratio of 76.54 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% on a year-over-year basis. Analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.94%. Abbott Laboratories’s payout ratio is presently 149.30%.

Abbott Laboratories 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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