North Star Asset Management Inc. Buys 4,004 Shares of Abbott Laboratories (ABT)

North Star Asset Management Inc. increased its stake in Abbott Laboratories (NYSE:ABT) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 24th largest position. North Star Asset Management Inc.’s holdings in Abbott Laboratories were worth $11,159,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of 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 during 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 during 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 during 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 during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in Abbott Laboratories during the first quarter valued at about $250,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Abbott Laboratories (NYSE ABT) traded up 0.16% during midday trading on Tuesday, hitting $49.16. The company had a trading volume of 629,016 shares. The stock has a 50 day moving average price of $49.09 and a 200 day moving average price of $45.79. The company has a market capitalization of $85.41 billion, a P/E ratio of 68.85 and a beta of 1.07. 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 quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors 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 annualized dividend and a yield of 2.16%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.

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Several equities analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Barclays PLC restated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. BidaskClub lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Jefferies Group LLC restated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $52.08.

In related news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $9,041,300.00. Following the transaction, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jared Watkin sold 552 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last three months, insiders sold 218,702 shares of company stock worth $10,149,733. 0.76% of the stock is owned by 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.