State of Alaska Department of Revenue raised its holdings in Abbott Laboratories (NYSE:ABT) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,460 shares of the healthcare product maker’s stock after purchasing an additional 530 shares during the period. State of Alaska Department of Revenue’s holdings in Abbott Laboratories were worth $459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in shares of Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after buying an additional 12,806,535 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Abbott Laboratories by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after buying an additional 3,344,508 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Abbott Laboratories by 33.8% in the 1st quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after buying an additional 2,231,316 shares in the last quarter. Legal & General Group Plc raised its position in shares of Abbott Laboratories by 20.1% in the 1st quarter. Legal & General Group Plc now owns 8,550,357 shares of the healthcare product maker’s stock valued at $379,731,000 after buying an additional 1,433,093 shares in the last quarter. Finally, Boston Partners raised its position in shares of Abbott Laboratories by 5,663.7% in the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after buying an additional 8,069,557 shares in the last quarter. 71.50% of the stock is owned by hedge funds and other institutional investors.

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Shares of Abbott Laboratories (ABT) traded down 0.52% during trading on Friday, reaching $53.36. 8,458,956 shares of the company’s stock traded hands. The company has a market cap of $92.71 billion, a price-to-earnings ratio of 74.73 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $53.79. The company’s 50-day moving average is $50.14 and its 200 day moving average is $47.04.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Equities analysts forecast 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 Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio is 149.30%.

ABT has been the subject of several analyst reports. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Jefferies Group LLC restated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, June 14th. Guggenheim initiated coverage on shares of Abbott Laboratories in a research report on Thursday, June 29th. They issued a “buy” rating and a $58.00 target price for the company. Finally, BTIG Research initiated coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $53.64.

In related news, insider Hubert L. Allen sold 4,600 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now owns 105,479 shares in the company, valued at approximately $5,357,278.41. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,310 shares of company stock worth $16,857,255. 0.76% of the stock is currently owned by company insiders.

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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