Abbott Laboratories (ABT) Stake Lessened by World Asset Management Inc

World Asset Management Inc cut its stake in Abbott Laboratories (NYSE:ABT) by 12.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,865 shares of the healthcare product maker’s stock after selling 23,771 shares during the period. World Asset Management Inc’s holdings in Abbott Laboratories were worth $7,965,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Sanders Morris Harris LLC boosted its holdings in shares of Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after acquiring an additional 16 shares in the last quarter. Alpha Windward LLC boosted its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock valued at $264,000 after acquiring an additional 30 shares in the last quarter. Johanson Financial Advisors Inc. boosted its holdings in shares of Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after acquiring an additional 37 shares in the last quarter. Country Club Trust Company n.a. boosted its holdings in shares of Abbott Laboratories by 0.5% in the second quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock valued at $356,000 after acquiring an additional 38 shares in the last quarter. Finally, Farmers National Bank boosted its holdings in shares of Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

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A number of brokerages recently weighed in on ABT. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. BidaskClub cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Stifel Nicolaus restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Guggenheim began coverage on shares of Abbott Laboratories in a report on Thursday, June 29th. They set a “buy” rating and a $58.00 target price for the company. Finally, Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, June 29th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.94.

In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at $6,005,906.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,157,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 333,310 shares of company stock valued at $16,857,255. Corporate insiders own 0.76% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) opened at 54.71 on Friday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $55.43. The stock has a market cap of $95.06 billion, a P/E ratio of 76.62 and a beta of 1.06. The company has a 50 day moving average of $52.35 and a 200 day moving average of $48.05.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. Equities research analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.

Abbott Laboratories 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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