Bp Plc lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 16.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 213,478 shares of the healthcare product maker’s stock after buying an additional 30,478 shares during the quarter. Bp Plc’s holdings in Abbott Laboratories were worth $9,483,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Janney Capital Management LLC lifted its stake in Abbott Laboratories by 0.4% during the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 26 shares during the last quarter. Delta Asset Management LLC TN lifted its stake in Abbott Laboratories by 1.3% during the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after purchasing an additional 51 shares during the last quarter. Alexandria Capital LLC lifted its stake in Abbott Laboratories by 0.5% during the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock worth $503,000 after purchasing an additional 56 shares during the last quarter. iAB Financial Bank lifted its stake in Abbott Laboratories by 0.4% during the first quarter. iAB Financial Bank now owns 27,050 shares of the healthcare product maker’s stock worth $1,201,000 after purchasing an additional 100 shares during the last quarter. Finally, Pekin Singer Strauss Asset Management IL lifted its stake in Abbott Laboratories by 0.5% during the first quarter. Pekin Singer Strauss Asset Management IL now owns 22,058 shares of the healthcare product maker’s stock worth $980,000 after purchasing an additional 108 shares during the last quarter. 71.66% of the stock is owned by institutional investors and hedge funds.

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ABT has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and set a $53.00 target price on shares of Abbott Laboratories in a research note on Friday. Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Finally, Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.50.

In other news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories 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 owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,252 shares of company stock valued at $19,878,958. Insiders own 0.76% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.68% during midday trading on Tuesday, reaching $50.83. The company’s stock had a trading volume of 868,361 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.41. The company’s 50-day moving average price is $49.56 and its 200 day moving average price is $46.48. The firm has a market capitalization of $88.31 billion, a PE ratio of 71.19 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last issued 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 company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. On average, equities research analysts forecast that Abbott Laboratories will post $2.49 earnings per share 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. The ex-dividend date was Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.07%. Abbott Laboratories’s payout ratio is 149.30%.

About Abbott Laboratories

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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