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

US Bancorp DE lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,045,301 shares of the healthcare product maker’s stock after selling 21,678 shares during the quarter. US Bancorp DE’s holdings in Abbott Laboratories were worth $347,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $32,000. Ridgewood Investments LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $37,000. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories in the third quarter worth $37,000. 75.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

ABT has been the subject of a number of research reports. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Barclays lifted their price target 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. Finally, Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Trading Down 0.5 %

NYSE ABT traded down $0.54 during trading hours on Thursday, reaching $113.91. The company had a trading volume of 518,332 shares, compared to its average volume of 5,683,949. The stock has a market capitalization of $198.19 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $114.79 and a 200 day moving average of $108.74.

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

Abbott Laboratories Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Abbott Laboratories Company Profile

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.