Charter Trust Co. reduced its position in Abbott Laboratories (NYSE:ABT) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,048 shares of the healthcare product maker’s stock after selling 2,350 shares during the quarter. Abbott Laboratories accounts for about 1.2% of Charter Trust Co.’s holdings, making the stock its 23rd largest holding. Charter Trust Co.’s holdings in Abbott Laboratories were worth $10,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Moody National Bank Trust Division boosted its holdings in Abbott Laboratories by 7.3% during the 2nd quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock valued at $717,000 after acquiring an additional 795 shares during the period. Sullivan Bruyette Speros & Blaney LLC boosted its holdings in Abbott Laboratories by 4.2% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 19,760 shares of the healthcare product maker’s stock valued at $1,205,000 after acquiring an additional 796 shares during the period. TRUE Private Wealth Advisors boosted its holdings in Abbott Laboratories by 7.9% during the 2nd quarter. TRUE Private Wealth Advisors now owns 11,546 shares of the healthcare product maker’s stock valued at $704,000 after acquiring an additional 842 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in Abbott Laboratories by 3.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 29,704 shares of the healthcare product maker’s stock valued at $1,812,000 after acquiring an additional 880 shares during the period. Finally, Altium Wealth Management LLC boosted its holdings in Abbott Laboratories by 18.7% during the 1st quarter. Altium Wealth Management LLC now owns 5,618 shares of the healthcare product maker’s stock valued at $337,000 after acquiring an additional 886 shares during the period. Hedge funds and other institutional investors own 72.48% of the company’s stock.

In other news, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the transaction, the insider now owns 35,576 shares of the company’s stock, valued at approximately $2,387,505.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaime Contreras sold 64,268 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total value of $4,295,673.12. Following the completion of the transaction, the senior vice president now directly owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. Insiders have sold a total of 90,389 shares of company stock valued at $5,995,012 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Stifel Nicolaus increased their target price on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, July 19th. Royal Bank of Canada restated a “buy” rating and set a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. Finally, Sanford C. Bernstein started coverage on Abbott Laboratories in a research report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price target for the company. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.88.

ABT opened at $67.11 on Wednesday. The company has a market cap of $117.26 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16. Abbott Laboratories has a one year low of $50.64 and a one year high of $67.36.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.71 billion. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. Abbott Laboratories’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. equities research analysts forecast that Abbott Laboratories will post 2.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, July 12th. Abbott Laboratories’s payout ratio is 44.80%.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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