US Bancorp DE Cuts Stake in Abbott Laboratories (NYSE:ABT)

US Bancorp DE reduced its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,045,301 shares of the healthcare product maker’s stock after selling 21,678 shares during the period. US Bancorp DE owned approximately 0.18% of Abbott Laboratories worth $347,195,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at approximately $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the second quarter worth $32,000. Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at $37,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Mizuho upped their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

View Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Price Performance

ABT traded down $0.54 during trading on Thursday, reaching $113.91. The stock had a trading volume of 518,332 shares, compared to its average volume of 5,683,949. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $114.79 and a two-hundred day moving average of $108.74. The firm has a market capitalization of $198.19 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the business earned $1.14 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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