Vontobel Asset Management Inc. Sells 362 Shares of Abbott Laboratories (NYSE:ABT)

Vontobel Asset Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,737 shares of the healthcare product maker’s stock after selling 362 shares during the quarter. Vontobel Asset Management Inc.’s holdings in Abbott Laboratories were worth $820,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ABT. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in shares of Abbott Laboratories by 3.8% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after purchasing an additional 116 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Abbott Laboratories by 4.1% in the second quarter. MCF Advisors LLC now owns 2,972 shares of the healthcare product maker’s stock valued at $250,000 after purchasing an additional 118 shares during the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of Abbott Laboratories by 2.3% in the second quarter. Institute for Wealth Management LLC. now owns 5,379 shares of the healthcare product maker’s stock valued at $452,000 after purchasing an additional 122 shares during the last quarter. M&R Capital Management Inc. increased its holdings in shares of Abbott Laboratories by 0.5% in the second quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock valued at $2,193,000 after purchasing an additional 126 shares during the last quarter. Finally, Advantage Investment Management LLC increased its holdings in shares of Abbott Laboratories by 4.6% in the second quarter. Advantage Investment Management LLC now owns 2,906 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 128 shares during the last quarter. 73.72% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Hubert L. Allen sold 165,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $85.00, for a total transaction of $14,025,000.00. Following the completion of the sale, the insider now owns 311,010 shares of the company’s stock, valued at $26,435,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian B. Yoor sold 43,763 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the sale, the chief financial officer now directly owns 125,781 shares of the company’s stock, valued at approximately $10,788,236.37. The disclosure for this sale can be found here. Insiders have sold 464,397 shares of company stock valued at $39,677,310 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

Shares of Abbott Laboratories stock traded down $0.95 during trading on Monday, reaching $83.32. The company’s stock had a trading volume of 231,819 shares, compared to its average volume of 4,061,920. The business’s 50-day moving average price is $85.25 and its 200-day moving average price is $81.11. The firm has a market cap of $150.60 billion, a PE ratio of 28.94, a P/E/G ratio of 2.40 and a beta of 1.14. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. Abbott Laboratories’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. Equities analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.54%. Abbott Laboratories’s dividend payout ratio is 44.44%.

Several equities analysts have commented on ABT shares. Bank of America reiterated a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a report on Thursday, June 13th. Raymond James upped their price objective on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a report on Wednesday, August 21st. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Cowen upped their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $86.38.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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