Profund Advisors LLC Sells 13,250 Shares of Abbott Laboratories (NYSE:ABT)

Profund Advisors LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 20.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 52,077 shares of the healthcare product maker’s stock after selling 13,250 shares during the quarter. Profund Advisors LLC’s holdings in Abbott Laboratories were worth $4,380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings in Abbott Laboratories by 0.3% during the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock worth $1,904,774,000 after buying an additional 65,260 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock valued at $1,431,723,000 after purchasing an additional 149,307 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Abbott Laboratories by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,653,964 shares of the healthcare product maker’s stock valued at $643,699,000 after purchasing an additional 199,283 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Abbott Laboratories by 1.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,817,281 shares of the healthcare product maker’s stock valued at $573,333,000 after purchasing an additional 73,074 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Abbott Laboratories by 2.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,559,939 shares of the healthcare product maker’s stock valued at $551,691,000 after purchasing an additional 134,092 shares during the period. Institutional investors own 73.84% of the company’s stock.

ABT stock traded down $1.11 during trading on Friday, reaching $84.10. 121,713 shares of the stock were exchanged, compared to its average volume of 4,116,040. The firm’s 50 day moving average is $85.33 and its 200 day moving average is $81.08. Abbott Laboratories has a twelve month low of $65.44 and a twelve month high of $88.76. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The firm has a market cap of $147.07 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.34 and a beta of 1.14.

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

The company 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 dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.52%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

ABT has been the topic of a number of recent analyst reports. Raymond James boosted their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research note on Wednesday, August 21st. Bank of America reissued a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research note on Thursday, June 13th. Morgan Stanley boosted their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, BMO Capital Markets boosted their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $86.38.

In related news, SVP Michael J. Pederson sold 23,008 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the transaction, the senior vice president now directly owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the transaction, the senior vice president now directly owns 97,755 shares in the company, valued at $8,322,860.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,397 shares of company stock worth $39,677,310. 0.70% of the stock is owned by company insiders.

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.

See Also: How do analysts define an oversold condition?

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.