Oppenheimer & Co. Inc. boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 129,642 shares of the healthcare product maker’s stock after buying an additional 4,427 shares during the period. Oppenheimer & Co. Inc.’s holdings in Abbott Laboratories were worth $5,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Bank of New York Mellon Corp boosted its position in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after buying an additional 3,344,508 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Abbott Laboratories by 33.8% in the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after buying an additional 2,231,316 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Abbott Laboratories by 20.1% in the first quarter. Legal & General Group Plc now owns 8,550,357 shares of the healthcare product maker’s stock worth $379,731,000 after buying an additional 1,433,093 shares during the last quarter. Boston Partners boosted its position in shares of Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after buying an additional 8,069,557 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Abbott Laboratories by 13.5% in the first quarter. UBS Asset Management Americas Inc. now owns 7,406,236 shares of the healthcare product maker’s stock worth $328,911,000 after buying an additional 881,235 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) traded down 0.707% during mid-day trading on Thursday, reaching $48.425. The company’s stock had a trading volume of 655,731 shares. The company’s 50-day moving average is $49.13 and its 200 day moving average is $45.58. The firm has a market cap of $84.14 billion, a price-to-earnings ratio of 67.822 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 quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. Abbott Laboratories’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.

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A number of research analysts have recently commented on ABT shares. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a research note on Saturday, April 22nd. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Finally, Stifel Nicolaus increased their price target on Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $51.93.

In related news, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the transaction, the insider now owns 143,154 shares in the company, valued at $7,157,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The disclosure for this sale can be found here. Insiders have sold 218,702 shares of company stock worth $10,149,733 in the last quarter. 0.76% of the stock is owned by corporate 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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