Cpcm LLC Has $1.26 Million Position in Abbott Laboratories (ABT)

Cpcm LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 3.4% during the first quarter, Holdings Channel reports. The fund owned 28,420 shares of the healthcare product maker’s stock after selling 1,003 shares during the period. Cpcm LLC’s holdings in Abbott Laboratories were worth $1,262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. National Pension Service increased its position in shares of Abbott Laboratories by 17.1% in the first quarter. National Pension Service now owns 1,184,114 shares of the healthcare product maker’s stock worth $52,752,000 after buying an additional 173,031 shares during the last quarter. Country Club Trust Company n.a. increased its position in shares of Abbott Laboratories by 7.7% in the first quarter. Country Club Trust Company n.a. now owns 7,282 shares of the healthcare product maker’s stock valued at $323,000 after buying an additional 518 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Abbott Laboratories by 14.6% in the first quarter. Quadrant Capital Group LLC now owns 10,618 shares of the healthcare product maker’s stock valued at $458,000 after buying an additional 1,351 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of Abbott Laboratories by 30.7% in the first quarter. Koshinski Asset Management Inc. now owns 7,457 shares of the healthcare product maker’s stock valued at $331,000 after buying an additional 1,751 shares during the last quarter. Finally, Lynch & Associates IN increased its position in shares of Abbott Laboratories by 8.0% in the first quarter. Lynch & Associates IN now owns 53,985 shares of the healthcare product maker’s stock valued at $2,397,000 after buying an additional 3,983 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Shares of Abbott Laboratories (NYSE ABT) traded down 0.5277% during mid-day trading on Friday, hitting $49.0299. The company had a trading volume of 1,574,617 shares. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13. The firm has a market capitalization of $85.19 billion, a P/E ratio of 68.6693 and a beta of 1.07. The firm has a 50-day moving average price of $49.15 and a 200 day moving average price of $45.90.

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, topping the 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 return on equity of 14.43% and a net margin of 4.96%. Abbott Laboratories’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.15%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

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Several research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and set a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday. Citigroup Inc. assumed coverage on Abbott Laboratories in a research note on Thursday. They set a “neutral” rating and a $53.00 target price for the company. Finally, BidaskClub downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.14.

In related news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,188,448. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction 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 transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,702 shares of company stock valued at $10,149,733. 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.

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

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