Rosenbaum Jay D. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,660 shares of the healthcare product maker’s stock after selling 2,600 shares during the period. Abbott Laboratories makes up 1.6% of Rosenbaum Jay D.’s portfolio, making the stock its 27th largest position. Rosenbaum Jay D.’s holdings in Abbott Laboratories were worth $809,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Duncker Streett & Co. Inc. increased its stake in shares of Abbott Laboratories by 1.7% in the second quarter. Duncker Streett & Co. Inc. now owns 59,133 shares of the healthcare product maker’s stock valued at $2,874,000 after buying an additional 1,003 shares during the period. Bridges Investment Counsel Inc. increased its stake in shares of Abbott Laboratories by 129.1% in the second quarter. Bridges Investment Counsel Inc. now owns 58,792 shares of the healthcare product maker’s stock valued at $2,857,000 after buying an additional 33,125 shares during the period. Bridges Investment Management Inc. increased its stake in shares of Abbott Laboratories by 4.3% in the second quarter. Bridges Investment Management Inc. now owns 39,625 shares of the healthcare product maker’s stock valued at $1,926,000 after buying an additional 1,623 shares during the period. Private Bank & Trust Co. increased its stake in shares of Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after buying an additional 3,330 shares during the period. Finally, Hemenway Trust Co LLC increased its stake in shares of Abbott Laboratories by 3.4% in the second quarter. Hemenway Trust Co LLC now owns 257,792 shares of the healthcare product maker’s stock valued at $12,531,000 after buying an additional 8,473 shares during the period. 71.64% of the stock is currently owned by institutional investors.

Abbott Laboratories (NYSE ABT) traded up 0.90% during trading on Thursday, reaching $50.56. 1,528,841 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $49.25 and its 200-day moving average price is $46.20. The stock has a market capitalization of $87.85 billion, a price-to-earnings ratio of 70.81 and a beta of 1.07. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion for 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%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. On average, equities analysts expect that Abbott Laboratories will post $2.49 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.

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Several brokerages have issued reports on ABT. Citigroup Inc. began coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $52.14.

In related news, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction that occurred on 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 directly owns 47,090 shares in the company, valued at $2,258,907.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction of $233,634.00. Following the sale, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,252 shares of company stock worth $19,878,958. 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.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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