Abbott Laboratories (ABT) Shares Sold by Brandywine Trust Co.

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Brandywine Trust Co. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, HoldingsChannel reports. The firm owned 161,230 shares of the healthcare product maker’s stock after selling 1,850 shares during the quarter. Abbott Laboratories comprises 8.6% of Brandywine Trust Co.’s portfolio, making the stock its 4th largest holding. Brandywine Trust Co.’s holdings in Abbott Laboratories were worth $9,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Abbott Laboratories by 3.7% in the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock worth $7,083,972,000 after purchasing an additional 4,153,157 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Abbott Laboratories by 12.0% in the second quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock worth $836,067,000 after purchasing an additional 1,468,430 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Abbott Laboratories by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,477,591 shares of the healthcare product maker’s stock worth $578,069,000 after purchasing an additional 67,093 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Abbott Laboratories by 5.2% in the first quarter. Franklin Resources Inc. now owns 9,042,686 shares of the healthcare product maker’s stock worth $541,838,000 after purchasing an additional 446,071 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Abbott Laboratories by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,327,489 shares of the healthcare product maker’s stock worth $439,064,000 after purchasing an additional 335,665 shares in the last quarter. 72.48% of the stock is owned by institutional investors and hedge funds.

In other Abbott Laboratories news, EVP Brian J. Blaser sold 15,100 shares of the stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now owns 151,718 shares in the company, valued at $9,703,883.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Pederson sold 1,050 shares of the stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total value of $66,601.50. Following the transaction, the insider now owns 79,467 shares in the company, valued at approximately $5,040,591.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,389 shares of company stock worth $5,995,012. Corporate insiders own 0.74% of the company’s stock.

Shares of ABT opened at $65.83 on Friday. The company has a market cap of $117.26 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58. Abbott Laboratories has a twelve month low of $51.13 and a twelve month high of $67.36.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter last year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. analysts predict that Abbott Laboratories will post 2.88 earnings per share for the current year.

A number of research firms have recently issued reports on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of Abbott Laboratories in a research report on Thursday, July 19th. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Sanford C. Bernstein assumed coverage on shares of Abbott Laboratories in a research report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price objective on the stock. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $69.88.

Abbott Laboratories Company 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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine 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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