Capital Advisors Inc. OK Reduces Position in Abbott Laboratories (NYSE:ABT)

Capital Advisors Inc. OK cut its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,405 shares of the healthcare product maker’s stock after selling 309 shares during the quarter. Capital Advisors Inc. OK’s holdings in Abbott Laboratories were worth $3,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 1.4% in the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock worth $17,906,500,000 after buying an additional 2,136,177 shares in the last quarter. BlackRock Inc. increased its position in shares of Abbott Laboratories by 2.1% in the fourth quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after purchasing an additional 2,836,966 shares during the last quarter. State Street Corp increased its position in shares of Abbott Laboratories by 2.6% in the fourth quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after purchasing an additional 1,896,462 shares during the last quarter. Norges Bank bought a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $2,290,723,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Abbott Laboratories by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,523,473 shares of the healthcare product maker’s stock worth $1,363,917,000 after purchasing an additional 218,683 shares during the last quarter. 73.03% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE:ABT traded down $0.29 during trading on Friday, reaching $100.78. 463,728 shares of the company traded hands, compared to its average volume of 4,955,861. The firm has a market capitalization of $176.49 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 3.73 and a beta of 0.72. Abbott Laboratories has a 52-week low of $99.85 and a 52-week high of $142.60. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $107.10 and its 200-day moving average is $111.67.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The firm had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 4.99 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, October 13th. Abbott Laboratories’s payout ratio is 39.25%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 3rd. Wolfe Research assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, July 5th. They issued an “underperform” rating on the stock. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $143.00 to $132.00 in a research report on Thursday, July 21st. Erste Group Bank cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Citigroup reduced their price target on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.46.

Insider Buying and Selling

In related news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the completion of the sale, the director now owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the completion of the sale, the director now owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Fernando Mateus sold 2,457 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total value of $267,935.85. Following the transaction, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The disclosure for this sale can be found here. Insiders sold 204,788 shares of company stock valued at $21,776,756 over the last quarter. 0.52% of the stock is owned by company insiders.

Abbott Laboratories Company Profile

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Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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

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