Markston International LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,600 shares of the healthcare product maker’s stock after selling 3,550 shares during the period. Markston International LLC’s holdings in Abbott Laboratories were worth $4,696,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABT. FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in Abbott Laboratories by 16.3% during the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 11,167 shares of the healthcare product maker’s stock worth $496,000 after buying an additional 1,567 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in Abbott Laboratories by 2.7% during the first quarter. Canandaigua National Bank & Trust Co. now owns 35,247 shares of the healthcare product maker’s stock worth $1,565,000 after buying an additional 910 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its holdings in Abbott Laboratories by 5.2% during the first quarter. Bbva Compass Bancshares Inc. now owns 226,299 shares of the healthcare product maker’s stock worth $10,050,000 after buying an additional 11,249 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Abbott Laboratories by 33.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 868,464 shares of the healthcare product maker’s stock worth $38,868,000 after buying an additional 215,611 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Abbott Laboratories during the first quarter worth $15,320,000. 70.64% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at $10,963,656. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,313 shares of company stock valued at $21,205,356. 0.76% of the stock is owned by company insiders.

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Shares of Abbott Laboratories (NYSE ABT) opened at $55.30 on Tuesday. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $56.69. The stock has a market cap of $95,384.93, a PE ratio of 22.74, a P/E/G ratio of 2.05 and a beta of 1.06. 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 released its quarterly earnings data 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 firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the business earned $0.59 earnings per share. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. analysts predict that Abbott Laboratories will post 2.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio is currently 83.47%.

Several equities analysts have issued reports on the stock. Barclays PLC increased their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a report on Monday, October 2nd. Finally, BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.81.

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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