Reilly Financial Advisors LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,744 shares of the healthcare product maker’s stock after selling 26,717 shares during the period. Abbott Laboratories accounts for 1.6% of Reilly Financial Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Reilly Financial Advisors LLC’s holdings in Abbott Laboratories were worth $10,682,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Treasurer State of Michigan raised its position in Abbott Laboratories by 2.4% in the second quarter. State Treasurer State of Michigan now owns 873,043 shares of the healthcare product maker’s stock worth $42,439,000 after buying an additional 20,800 shares during the period. Sit Investment Associates Inc. raised its position in Abbott Laboratories by 10.6% in the second quarter. Sit Investment Associates Inc. now owns 687,608 shares of the healthcare product maker’s stock worth $33,425,000 after buying an additional 65,878 shares during the period. Inspirion Wealth Advisors LLC raised its position in Abbott Laboratories by 0.5% in the second quarter. Inspirion Wealth Advisors LLC now owns 215,708 shares of the healthcare product maker’s stock worth $10,486,000 after buying an additional 1,027 shares during the period. First National Bank of Omaha raised its position in Abbott Laboratories by 0.3% in the second quarter. First National Bank of Omaha now owns 91,955 shares of the healthcare product maker’s stock worth $4,470,000 after buying an additional 291 shares during the period. Finally, Patten & Patten Inc. TN raised its position in Abbott Laboratories by 3.4% in the second quarter. Patten & Patten Inc. TN now owns 18,447 shares of the healthcare product maker’s stock worth $897,000 after buying an additional 612 shares during the period. Institutional investors own 70.98% of the company’s stock.

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

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

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

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A number of research firms have recently commented on ABT. BidaskClub lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Barclays PLC restated an “overweight” rating and issued a $57.00 price objective (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $51.93.

In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders sold a total of 218,702 shares of company stock valued at $10,149,733 over the last 90 days. 0.76% of the stock is currently 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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