North Star Asset Management Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the first quarter, Holdings Channel reports. The institutional investor owned 251,269 shares of the healthcare product maker’s stock after buying an additional 4,004 shares during the period. Abbott Laboratories accounts for approximately 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 24th largest position. North Star Asset Management Inc.’s holdings in Abbott Laboratories were worth $11,159,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ABT. Janney Capital Management LLC raised its stake in shares of Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock valued at $276,000 after buying an additional 26 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock valued at $178,000 after buying an additional 51 shares in the last quarter. Farmers National Bank raised its stake in shares of Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after buying an additional 52 shares in the last quarter. Alexandria Capital LLC raised its stake in shares of Abbott Laboratories by 0.5% in the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock valued at $503,000 after buying an additional 56 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of Abbott Laboratories by 1.1% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,259 shares of the healthcare product maker’s stock valued at $323,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Abbott Laboratories (ABT) traded up 0.16% during trading on Tuesday, hitting $49.16. The company’s stock had a trading volume of 629,016 shares. The company has a 50-day moving average of $49.09 and a 200 day moving average of $45.79. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The firm has a market cap of $85.41 billion, a PE ratio of 68.85 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current 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 issued a $0.265 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.16%. Abbott Laboratories’s payout ratio is 149.30%.

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Several analysts have recently commented on the company. UBS AG reiterated a “neutral” rating and set a $41.00 price objective on shares of Abbott Laboratories in a report on Tuesday, April 18th. TheStreet lowered Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Royal Bank Of Canada reiterated a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Jefferies Group LLC decreased their price objective on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Finally, Cowen and Company reiterated an “outperform” rating and set a $48.00 price objective on shares of Abbott Laboratories in a report on Saturday, April 22nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $52.08.

In other news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated 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 directly owns 221,488 shares of the company’s stock, valued at $10,188,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders sold 218,702 shares of company stock valued at $10,149,733 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

About Abbott Laboratories

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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