Corundum Group Inc. purchased a new position in Abbott Laboratories (NYSE:ABT) during the third quarter, HoldingsChannel reports. The firm purchased 5,273 shares of the healthcare product maker’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gratus Capital LLC increased its position in Abbott Laboratories by 0.9% during the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after buying an additional 1,869 shares during the last quarter. AQR Capital Management LLC increased its position in Abbott Laboratories by 264.8% during the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after buying an additional 460,477 shares during the last quarter. Vantage Investment Advisors LLC increased its position in Abbott Laboratories by 103.4% during the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after buying an additional 36,683 shares during the last quarter. Amalgamated Bank increased its position in Abbott Laboratories by 57.6% during the second quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after buying an additional 69,871 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI increased its position in Abbott Laboratories by 2.5% during the second quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock worth $11,708,000 after buying an additional 5,790 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Abbott Laboratories (NYSE:ABT) opened at $58.99 on Monday. The stock has a market capitalization of $102,680.00, a PE ratio of 48.75, 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 current ratio of 2.69 and a quick ratio of 2.26.

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, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. sell-side analysts predict that Abbott Laboratories will post 2.5 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.28 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 87.60%.

In related news, insider Brian J. Blaser sold 23,866 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the sale, the insider now owns 146,387 shares in the company, valued at $8,131,797.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 501,172 shares of company stock worth $27,533,150. 0.76% of the stock is currently owned by company insiders.

Several research firms have commented on ABT. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Evercore ISI began coverage on shares of Abbott Laboratories in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price on the stock in a research report on Tuesday, January 2nd. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $58.00 to $65.00 in a research report on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.59.

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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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