Emerald Advisers LLC Sells 2,950 Shares of Abbott Laboratories (NYSE:ABT)

Emerald Advisers LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 21.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,638 shares of the healthcare product maker’s stock after selling 2,950 shares during the quarter. Emerald Advisers LLC’s holdings in Abbott Laboratories were worth $895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of Abbott Laboratories by 3.8% in the 2nd 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. M&R Capital Management Inc. boosted its stake in shares of Abbott Laboratories by 0.5% in the 2nd 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. Advantage Investment Management LLC boosted its stake in shares of Abbott Laboratories by 4.6% in the 2nd 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. St. Johns Investment Management Company LLC boosted its stake in shares of Abbott Laboratories by 0.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 19,014 shares of the healthcare product maker’s stock valued at $1,599,000 after purchasing an additional 131 shares during the last quarter. Finally, Bank OZK boosted its stake in shares of Abbott Laboratories by 0.5% in the 1st quarter. Bank OZK now owns 24,326 shares of the healthcare product maker’s stock valued at $1,944,000 after purchasing an additional 133 shares during the last quarter. 73.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ABT opened at $86.89 on Wednesday. The company has a market capitalization of $153.09 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.44 and a beta of 1.12. Abbott Laboratories has a 12-month low of $63.07 and a 12-month high of $88.76. The business’s fifty day moving average is $85.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. Abbott Laboratories’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total transaction of $596,058.00. Following the transaction, the executive vice president now owns 99,479 shares in the company, valued at $8,157,278. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian J. Blaser sold 450,062 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the transaction, the insider now owns 295,745 shares in the company, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 885,102 shares of company stock worth $71,110,429. 0.70% of the stock is owned by insiders.

A number of research firms have recently commented on ABT. 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 research note on Thursday, July 18th. Wells Fargo & Co upped their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Friday, June 7th. Bank of America reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research note on Thursday, June 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $85.82.

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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