Abbott Laboratories (NYSE:ABT) Holdings Trimmed by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 28.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 664,944 shares of the healthcare product maker’s stock after selling 264,779 shares during the period. Epoch Investment Partners Inc.’s holdings in Abbott Laboratories were worth $77,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Abbott Laboratories by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 26,437,355 shares of the healthcare product maker’s stock valued at $3,054,988,000 after acquiring an additional 454,618 shares in the last quarter. Freemont Management S.A. grew its holdings in shares of Abbott Laboratories by 28.4% during the 2nd quarter. Freemont Management S.A. now owns 122,020 shares of the healthcare product maker’s stock valued at $14,146,000 after acquiring an additional 27,000 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Abbott Laboratories by 13.9% during the 1st quarter. Gotham Asset Management LLC now owns 55,367 shares of the healthcare product maker’s stock valued at $6,635,000 after acquiring an additional 6,741 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 2,308,336 shares of the healthcare product maker’s stock valued at $267,605,000 after acquiring an additional 9,523 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. lifted its stake in shares of Abbott Laboratories by 43.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 17,318 shares of the healthcare product maker’s stock valued at $2,075,000 after purchasing an additional 5,236 shares during the last quarter. Hedge funds and other institutional investors own 72.05% of the company’s stock.

Shares of ABT stock traded up $0.49 during trading hours on Thursday, reaching $117.49. 71,086 shares of the company were exchanged, compared to its average volume of 5,370,625. Abbott Laboratories has a fifty-two week low of $103.13 and a fifty-two week high of $129.70. The stock’s fifty day moving average is $123.59 and its two-hundred day moving average is $119.60. The company has a market cap of $208.29 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.15. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. During the same period in the prior year, the business posted $0.57 earnings per share. Abbott Laboratories’s revenue was up 41.2% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 4.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be issued a $0.45 dividend. The ex-dividend date is Thursday, October 14th. This represents a $1.80 annualized dividend and a yield of 1.53%. Abbott Laboratories’s dividend payout ratio is currently 49.32%.

In other Abbott Laboratories news, EVP Andrew H. Lane sold 135,925 shares of the stock in a transaction on Friday, August 27th. The shares were sold at an average price of $125.47, for a total value of $17,054,509.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 14,500 shares of the stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,812,500.00. Following the completion of the sale, the executive vice president now owns 54,282 shares in the company, valued at $6,785,250. The disclosure for this sale can be found here. Insiders sold 222,883 shares of company stock worth $27,964,400 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Several research firms recently issued reports on ABT. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, July 23rd. Cowen restated a “buy” rating and set a $140.00 price objective on shares of Abbott Laboratories in a report on Friday, October 8th. SVB Leerink boosted their price objective on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Tuesday, July 20th. BTIG Research boosted their price objective on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, July 12th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $130.52.

About Abbott Laboratories

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

Further Reading: What is the Fibonacci sequence?

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.