Rockefeller Financial Services Inc. Has $125.37 Million Stake in Abbott Laboratories (ABT)

Rockefeller Financial Services Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,579,060 shares of the healthcare product maker’s stock after selling 80,192 shares during the period. Abbott Laboratories makes up about 2.5% of Rockefeller Financial Services Inc.’s holdings, making the stock its 8th largest position. Rockefeller Financial Services Inc. owned about 0.15% of Abbott Laboratories worth $125,368,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in ABT. Tealwood Asset Management Inc. raised its stake in Abbott Laboratories by 9.3% in the second quarter. Tealwood Asset Management Inc. now owns 31,951 shares of the healthcare product maker’s stock valued at $1,553,000 after buying an additional 2,714 shares in the last quarter. Main Street Research LLC raised its stake in Abbott Laboratories by 25.8% in the second quarter. Main Street Research LLC now owns 7,138 shares of the healthcare product maker’s stock valued at $347,000 after buying an additional 1,463 shares in the last quarter. North Star Investment Management Corp. raised its stake in Abbott Laboratories by 3.9% in the second quarter. North Star Investment Management Corp. now owns 66,554 shares of the healthcare product maker’s stock valued at $3,235,000 after buying an additional 2,528 shares in the last quarter. Heritage Way Advisors LLC raised its stake in Abbott Laboratories by 12.6% in the second quarter. Heritage Way Advisors LLC now owns 45,065 shares of the healthcare product maker’s stock valued at $2,191,000 after buying an additional 5,030 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Abbott Laboratories by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 107,674 shares of the healthcare product maker’s stock valued at $5,234,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Shares of Abbott Laboratories (ABT) opened at 48.74 on Friday. The firm has a market cap of $84.68 billion, a P/E ratio of 68.26 and a beta of 1.07. The company’s 50-day moving average price is $49.15 and its 200-day moving average price is $45.95. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.17%. Abbott Laboratories’s payout ratio is 149.30%.

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Several analysts have issued reports on ABT shares. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Royal Bank Of Canada restated a “buy” rating on shares of Abbott Laboratories in a research note on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and issued a $51.00 price objective (up previously from $50.00) on shares of Abbott Laboratories in a research note on Friday, May 12th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, May 16th. Finally, Stifel Nicolaus upped their price objective on Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $52.14.

In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the sale, the insider now directly owns 28,806 shares in the company, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold a total of 415,252 shares of company stock worth $19,878,958 in the last three months. Insiders own 0.76% of the company’s stock.

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.

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

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