Taylor Cottrill Erickson & Associates Inc. Cuts Position in Abbott Laboratories (NYSE:ABT)

Taylor Cottrill Erickson & Associates Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,729 shares of the healthcare product maker’s stock after selling 540 shares during the quarter. Taylor Cottrill Erickson & Associates Inc.’s holdings in Abbott Laboratories were worth $3,005,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Osborn Williams & Donohoe LLC raised its holdings in shares of Abbott Laboratories by 3.0% in the 2nd quarter. Osborn Williams & Donohoe LLC now owns 153,584 shares of the healthcare product maker’s stock worth $12,916,000 after purchasing an additional 4,434 shares during the period. Regal Investment Advisors LLC raised its holdings in shares of Abbott Laboratories by 4.7% in the 2nd quarter. Regal Investment Advisors LLC now owns 4,583 shares of the healthcare product maker’s stock worth $385,000 after purchasing an additional 205 shares during the period. Hedeker Wealth LLC raised its holdings in shares of Abbott Laboratories by 18.7% in the 2nd quarter. Hedeker Wealth LLC now owns 45,095 shares of the healthcare product maker’s stock worth $3,792,000 after purchasing an additional 7,099 shares during the period. Northpointe Capital LLC raised its holdings in shares of Abbott Laboratories by 31.3% during the 2nd quarter. Northpointe Capital LLC now owns 68,567 shares of the healthcare product maker’s stock valued at $5,766,000 after buying an additional 16,365 shares during the period. Finally, Delta Asset Management LLC TN raised its holdings in shares of Abbott Laboratories by 20.8% during the 2nd quarter. Delta Asset Management LLC TN now owns 15,656 shares of the healthcare product maker’s stock valued at $1,317,000 after buying an additional 2,701 shares during the period. Institutional investors own 73.46% of the company’s stock.

ABT stock traded down $0.26 during midday trading on Wednesday, hitting $84.60. 183,240 shares of the company’s stock were exchanged, compared to its average volume of 5,037,156. 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 has a 12-month low of $63.07 and a 12-month high of $88.76. The business has a 50 day moving average of $85.55. The firm has a market capitalization of $151.68 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. During the same period in the previous year, the business earned $0.73 EPS. Abbott Laboratories’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, July 12th. This represents a $1.28 annualized dividend and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the insider now directly owns 295,745 shares in the company, valued at approximately $22,334,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $82.00, for a total value of $596,058.00. Following the sale, the executive vice president now owns 99,479 shares in the company, valued at $8,157,278. The disclosure for this sale can be found here. Insiders have sold a total of 818,331 shares of company stock worth $65,369,215 over the last 90 days. 0.70% of the stock is owned by company insiders.

Several equities research analysts recently commented on ABT shares. Morgan Stanley raised their target price on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Jefferies Financial Group raised their target price on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Friday, June 7th. BMO Capital Markets raised their target price on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Co raised their target price on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $85.82.

Abbott Laboratories Profile

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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