Dynamic Technology Lab Private Ltd Sells 2,565 Shares of Abbott Laboratories (NYSE:ABT)

Dynamic Technology Lab Private Ltd lowered its stake in Abbott Laboratories (NYSE:ABT) by 21.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,361 shares of the healthcare product maker’s stock after selling 2,565 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Abbott Laboratories were worth $416,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Chevy Chase Trust Holdings Inc. increased its stake in shares of Abbott Laboratories by 19.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,611,080 shares of the healthcare product maker’s stock valued at $71,546,000 after buying an additional 258,152 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Abbott Laboratories by 14.2% in the first quarter. Bridges Investment Management Inc. now owns 38,002 shares of the healthcare product maker’s stock valued at $1,687,000 after buying an additional 4,725 shares during the last quarter. McQueen Ball & Associates Inc. increased its stake in shares of Abbott Laboratories by 0.4% in the first quarter. McQueen Ball & Associates Inc. now owns 46,104 shares of the healthcare product maker’s stock valued at $2,047,000 after buying an additional 197 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Abbott Laboratories during the first quarter valued at $12,572,000. Finally, First Financial Bank N.A. Trust Division increased its stake in shares of Abbott Laboratories by 1.4% in the first quarter. First Financial Bank N.A. Trust Division now owns 167,695 shares of the healthcare product maker’s stock valued at $7,448,000 after buying an additional 2,389 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories (NYSE:ABT) opened at 49.30 on Tuesday. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The stock has a 50 day moving average of $48.97 and a 200 day moving average of $45.28. The firm has a market cap of $85.55 billion, a PE ratio of 69.05 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 4.07% and a return on equity of 3.44%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.15%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.

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Several brokerages recently weighed in on ABT. 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. BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.93.

In other news, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The disclosure for this sale can be found here. Insiders have sold 218,702 shares of company stock worth $10,149,733 in the last quarter. Insiders own 0.76% of the company’s stock.

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.

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

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