Nippon Life Global Investors Americas Inc. continued to hold its stake in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,070 shares of the healthcare product maker’s stock at the end of the first quarter. Nippon Life Global Investors Americas Inc.’s holdings in Abbott Laboratories were worth $6,842,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ABT. Bridges Investment Management Inc. boosted its stake in shares of Abbott Laboratories by 14.2% in the first quarter. Bridges Investment Management Inc. now owns 38,002 shares of the healthcare product maker’s stock worth $1,687,000 after buying an additional 4,725 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Abbott Laboratories by 19.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,611,080 shares of the healthcare product maker’s stock worth $71,546,000 after buying an additional 258,152 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in shares of Abbott Laboratories by 57.5% in the first quarter. Curbstone Financial Management Corp now owns 19,180 shares of the healthcare product maker’s stock worth $852,000 after buying an additional 6,999 shares in the last quarter. First American Trust FSB boosted its stake in shares of Abbott Laboratories by 116.0% in the first quarter. First American Trust FSB now owns 101,536 shares of the healthcare product maker’s stock worth $4,509,000 after buying an additional 54,534 shares in the last quarter. Finally, Burns J W & Co. Inc. NY boosted its stake in shares of Abbott Laboratories by 0.3% in the first quarter. Burns J W & Co. Inc. NY now owns 20,946 shares of the healthcare product maker’s stock worth $930,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Abbott Laboratories (ABT) traded up 1.00% during midday trading on Friday, hitting $48.54. 3,978,902 shares of the company traded hands. The stock’s 50-day moving average price is $49.09 and its 200 day moving average price is $45.65. The company has a market capitalization of $84.34 billion, a price-to-earnings ratio of 67.98 and a beta of 1.07. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities analysts forecast that Abbott Laboratories will post $2.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.

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A number of equities research analysts have issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $49.00 price target on shares of Abbott Laboratories in a report on Tuesday, April 18th. Jefferies Group LLC decreased their price target on shares of Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. UBS AG restated a “neutral” rating and set a $41.00 price target on shares of Abbott Laboratories in a report on Tuesday, April 18th. Morgan Stanley restated an “equal weight” rating and set a $42.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 19th. Finally, Barclays PLC upped their price target on shares of Abbott Laboratories from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $51.93.

In related news, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the sale, the insider now owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,149,733 in the last ninety days. 0.76% of the stock is currently owned by insiders.

Abbott Laboratories Company 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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