Abbott Laboratories (NYSE:ABT) Position Held by Allen Investment Management LLC

Allen Investment Management LLC maintained its stake in Abbott Laboratories (NYSE:ABT) during the first quarter, Holdings Channel reports. The firm owned 8,000 shares of the healthcare product maker’s stock at the end of the first quarter. Allen Investment Management LLC’s holdings in Abbott Laboratories were worth $355,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Janney Capital Management LLC raised its stake in Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock valued at $276,000 after buying an additional 26 shares during the last quarter. Pure Financial Advisors Inc. raised its stake in Abbott Laboratories by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 11,004 shares of the healthcare product maker’s stock valued at $489,000 after buying an additional 45 shares during the last quarter. Delta Asset Management LLC TN raised its stake in Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock valued at $178,000 after buying an additional 51 shares during the last quarter. Alexandria Capital LLC raised its stake in Abbott Laboratories by 0.5% in the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock valued at $503,000 after buying an additional 56 shares during the last quarter. Finally, Burns J W & Co. Inc. NY raised its stake in Abbott Laboratories by 0.3% in the first quarter. Burns J W & Co. Inc. NY now owns 20,946 shares of the healthcare product maker’s stock valued at $930,000 after buying an additional 57 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories (NYSE:ABT) traded down 0.76% on Thursday, hitting $48.40. 482,569 shares of the stock traded hands. The firm has a 50-day moving average price of $49.13 and a 200-day moving average price of $45.58. The company has a market capitalization of $84.09 billion, a PE ratio of 67.79 and a beta of 1.07. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is currently 149.30%.

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Several equities research analysts recently commented on the stock. UBS AG reissued a “neutral” rating and set a $41.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Jefferies Group LLC dropped their price objective on shares of Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 18th. Cowen and Company reissued an “outperform” rating and set a $48.00 price objective on shares of Abbott Laboratories in a research note on Saturday, April 22nd. Royal Bank Of Canada reissued a “buy” rating on shares of Abbott Laboratories in a research note on Monday, May 15th. Finally, TheStreet lowered shares of Abbott Laboratories from a “b” rating to a “c+” rating in a research note on Thursday, May 18th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $51.93.

In related news, insider Jared Watkin sold 552 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were 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 directly owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Insiders sold a total of 218,702 shares of company stock valued at $10,149,733 over the last ninety days. 0.76% of the stock is currently owned by insiders.

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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