Comerica Bank lowered its position in Abbott Laboratories (NYSE:ABT) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,106,649 shares of the healthcare product maker’s stock after selling 30,051 shares during the period. Comerica Bank’s holdings in Abbott Laboratories were worth $60,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after buying an additional 3,241,063 shares during the last quarter. Capital Research Global Investors lifted its position in Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after buying an additional 14,918,038 shares during the last quarter. Northern Trust Corp lifted its position in Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after buying an additional 809,732 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after buying an additional 2,606,404 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Abbott Laboratories by 7.7% in the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after buying an additional 830,610 shares during the last quarter. 71.15% of the stock is owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) opened at $58.95 on Friday. The stock has a market cap of $102,610.00, a PE ratio of 48.72, a PEG ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a 1 year low of $39.25 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 28.8% on a year-over-year basis. research analysts expect that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is presently 87.60%.

In related news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares in the company, valued at $200,115,246.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the sale, the insider now owns 102,117 shares in the company, valued at $5,608,265.64. The disclosure for this sale can be found here. Insiders have sold 501,172 shares of company stock worth $27,533,150 over the last 90 days. Insiders own 0.76% of the company’s stock.

ABT has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. JPMorgan Chase & Co. initiated coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price on the stock. 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, October 3rd. Finally, Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a research report on Thursday, October 19th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $60.24.

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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.

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

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