US Bancorp DE Sells 46,239 Shares of Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

US Bancorp DE reduced its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.6% during the first quarter, Holdings Channel reports. The institutional investor owned 2,920,157 shares of the healthcare product maker’s stock after selling 46,239 shares during the quarter. US Bancorp DE’s holdings in Abbott Laboratories were worth $387,360,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ABT. T. Rowe Price Investment Management Inc. boosted its stake in shares of Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after purchasing an additional 6,628,310 shares during the period. GAMMA Investing LLC grew its holdings in Abbott Laboratories by 15,420.4% in the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock worth $676,866,000 after acquiring an additional 5,069,771 shares during the last quarter. Capital International Investors increased its position in shares of Abbott Laboratories by 3.4% in the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares during the period. Northern Trust Corp increased its holdings in Abbott Laboratories by 10.3% during the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock valued at $2,494,851,000 after purchasing an additional 2,060,650 shares during the period. Finally, Invesco Ltd. raised its position in Abbott Laboratories by 27.6% during the 4th quarter. Invesco Ltd. now owns 9,018,429 shares of the healthcare product maker’s stock valued at $1,020,074,000 after purchasing an additional 1,948,329 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial decreased their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Barclays boosted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Royal Bank Of Canada raised their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.47.

Check Out Our Latest Stock Report on ABT

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $126.16 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a twelve month low of $103.55 and a twelve month high of $141.23. The stock has a market capitalization of $219.50 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.44 and a beta of 0.73. The firm’s 50 day moving average price is $131.86 and its 200-day moving average price is $130.26.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s payout ratio is currently 29.57%.

Abbott Laboratories Company Profile

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

Further Reading

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