Karpas Strategies LLC continued to hold its stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, Holdings Channel reports. The fund owned 6,100 shares of the healthcare product maker’s stock at the end of the second quarter. Karpas Strategies LLC’s holdings in Abbott Laboratories were worth $297,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABT. State Treasurer State of Michigan boosted its stake in shares of Abbott Laboratories by 2.4% in the second quarter. State Treasurer State of Michigan now owns 873,043 shares of the healthcare product maker’s stock valued at $42,439,000 after buying an additional 20,800 shares in the last quarter. Sit Investment Associates Inc. boosted its stake in shares of Abbott Laboratories by 10.6% in the second quarter. Sit Investment Associates Inc. now owns 687,608 shares of the healthcare product maker’s stock valued at $33,425,000 after buying an additional 65,878 shares in the last quarter. Inspirion Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 0.5% in the second quarter. Inspirion Wealth Advisors LLC now owns 215,708 shares of the healthcare product maker’s stock valued at $10,486,000 after buying an additional 1,027 shares in the last quarter. First National Bank of Omaha boosted its stake in shares of Abbott Laboratories by 0.3% in the second quarter. First National Bank of Omaha now owns 91,955 shares of the healthcare product maker’s stock valued at $4,470,000 after buying an additional 291 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its stake in shares of Abbott Laboratories by 3.4% in the second quarter. Patten & Patten Inc. TN now owns 18,447 shares of the healthcare product maker’s stock valued at $897,000 after buying an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) traded down 0.851% during trading on Thursday, reaching $48.355. 1,309,605 shares of the company’s stock were exchanged. The stock has a market cap of $84.01 billion, a P/E ratio of 67.724 and a beta of 1.07. The company has a 50 day moving average of $49.13 and a 200 day moving average of $45.58. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was up 24.5% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

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Several brokerages have recently issued reports on ABT. BidaskClub cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday. Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Barclays PLC reiterated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $51.93.

In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the transaction, the insider now owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,149,733 in the last quarter. 0.76% of the stock is currently owned by company insiders.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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