Hollencrest Securities LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 14.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,268 shares of the healthcare product maker’s stock after selling 1,086 shares during the period. Hollencrest Securities LLC’s holdings in Abbott Laboratories were worth $304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Atwood & Palmer Inc. increased its stake in shares of Abbott Laboratories by 157.5% in the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after purchasing an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Abbott Laboratories by 9.3% in the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock valued at $152,000 after purchasing an additional 292 shares in the last quarter. Farmers National Bank increased its stake in shares of Abbott Laboratories by 1.5% in the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after purchasing an additional 52 shares in the last quarter. Advantage Investment Management LLC increased its stake in shares of Abbott Laboratories by 17.3% in the 1st quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after purchasing an additional 543 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its stake in shares of Abbott Laboratories by 1.3% in the 1st quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock valued at $178,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

ABT has been the subject of several recent analyst reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a report on Friday, June 16th. BidaskClub upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. BTIG Research began coverage on Abbott Laboratories in a report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, Guggenheim began coverage on Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.64.

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In related news, insider Sharon J. Bracken sold 2,000 shares of Abbott Laboratories stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the sale, the insider now owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of Abbott Laboratories stock in a transaction on 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 directly owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. In the last three months, insiders sold 333,310 shares of company stock worth $16,857,255. Insiders own 0.76% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.52% during mid-day trading on Friday, reaching $53.36. The company’s stock had a trading volume of 8,458,956 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $53.79. The company has a market capitalization of $92.71 billion, a price-to-earnings ratio of 74.73 and a beta of 1.06. The firm’s 50 day moving average price is $50.14 and its 200-day moving average price is $47.04.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend 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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