Lynch & Associates IN Sells 273 Shares of Abbott Laboratories (NYSE:ABT)

Lynch & Associates IN reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 71,274 shares of the healthcare product maker’s stock after selling 273 shares during the quarter. Abbott Laboratories comprises 1.8% of Lynch & Associates IN’s investment portfolio, making the stock its 19th largest position. Lynch & Associates IN’s holdings in Abbott Laboratories were worth $5,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABT. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in 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 buying an additional 116 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Abbott Laboratories by 4.1% during the 2nd quarter. MCF Advisors LLC now owns 2,972 shares of the healthcare product maker’s stock worth $250,000 after purchasing an additional 118 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in shares of Abbott Laboratories by 2.3% during the 2nd quarter. Institute for Wealth Management LLC. now owns 5,379 shares of the healthcare product maker’s stock worth $452,000 after purchasing an additional 122 shares during the last quarter. M&R Capital Management Inc. increased its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock worth $2,193,000 after purchasing an additional 126 shares during the last quarter. Finally, Advantage Investment Management LLC increased its stake in shares of Abbott Laboratories by 4.6% during the 2nd quarter. Advantage Investment Management LLC now owns 2,906 shares of the healthcare product maker’s stock worth $244,000 after purchasing an additional 128 shares during the last quarter. 73.71% of the stock is currently owned by institutional investors and hedge funds.

ABT traded up $1.35 on Thursday, reaching $80.88. The company had a trading volume of 1,732,244 shares, compared to its average volume of 4,017,124. Abbott Laboratories has a fifty-two week low of $65.44 and a fifty-two week high of $88.76. The stock has a market cap of $147.88 billion, a P/E ratio of 28.08, a P/E/G ratio of 2.35 and a beta of 1.14. The company’s fifty day moving average is $83.88 and its 200 day moving average is $81.61. 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 announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. During the same quarter in the prior year, the business earned $0.73 EPS. Abbott Laboratories’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Abbott Laboratories will post 3.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.58%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

Several research analysts have recently weighed in on the stock. Wells Fargo & Co boosted their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. BMO Capital Markets boosted their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Bank of America restated a “buy” rating and set a $81.00 price objective on shares of Abbott Laboratories in a research note on Thursday, June 13th. Finally, Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.38.

In related news, insider Randel William Woodgrift sold 65,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total value of $5,720,650.00. Following the transaction, the insider now owns 117,562 shares in the company, valued at approximately $10,346,631.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the transaction, the director now owns 26,266 shares in the company, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,497 shares of company stock worth $15,701,810. 0.70% of the stock is owned by company insiders.

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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