Academy Capital Management Inc. TX lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 134,833 shares of the healthcare product maker’s stock after selling 1,416 shares during the period. Abbott Laboratories comprises about 1.8% of Academy Capital Management Inc. TX’s portfolio, making the stock its 23rd largest position. Academy Capital Management Inc. TX’s holdings in Abbott Laboratories were worth $6,554,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABT. Cordasco Financial Network raised its position in Abbott Laboratories by 175.8% in the first quarter. Cordasco Financial Network now owns 5,516 shares of the healthcare product maker’s stock valued at $245,000 after buying an additional 3,516 shares in the last quarter. Nadler Financial Group Inc. raised its position in Abbott Laboratories by 3.4% in the first quarter. Nadler Financial Group Inc. now owns 11,823 shares of the healthcare product maker’s stock valued at $525,000 after buying an additional 393 shares in the last quarter. Raymond James Trust N.A. raised its position in Abbott Laboratories by 6.5% in the first quarter. Raymond James Trust N.A. now owns 163,719 shares of the healthcare product maker’s stock valued at $7,270,000 after buying an additional 9,960 shares in the last quarter. Osborn Williams & Donohoe LLC raised its position in Abbott Laboratories by 0.8% in the first quarter. Osborn Williams & Donohoe LLC now owns 136,988 shares of the healthcare product maker’s stock valued at $6,083,000 after buying an additional 1,046 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Abbott Laboratories during the first quarter valued at approximately $250,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) traded down 0.06% during trading on Tuesday, reaching $49.05. 1,125,402 shares of the company were exchanged. The stock has a market capitalization of $85.22 billion, a P/E ratio of 68.70 and a beta of 1.07. The stock has a 50-day moving average of $49.09 and a 200 day moving average of $45.79. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.16%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

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Several research firms have recently commented on ABT. Royal Bank Of Canada restated a “buy” rating on shares of Abbott Laboratories in a research report on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. BTIG Research began coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price target for the company. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Wednesday, June 14th. Finally, BidaskClub upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $52.08.

In other news, insider Brian J. Blaser sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the sale, the insider now directly owns 143,154 shares in the company, valued at $7,157,700. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,702 shares of company stock valued at $10,149,733. 0.76% of the stock is currently owned by corporate 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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