US Bancorp DE Has $335.53 Million Holdings in Abbott Laboratories (NYSE:ABT)

US Bancorp DE cut its stake in Abbott Laboratories (NYSE:ABT) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,966,396 shares of the healthcare product maker’s stock after selling 78,905 shares during the period. US Bancorp DE owned approximately 0.17% of Abbott Laboratories worth $335,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 218.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 11,848 shares of the healthcare product maker’s stock worth $1,351,000 after buying an additional 8,125 shares during the last quarter. Financial Advocates Investment Management raised its holdings in shares of Abbott Laboratories by 1.8% in the 3rd quarter. Financial Advocates Investment Management now owns 12,304 shares of the healthcare product maker’s stock valued at $1,403,000 after purchasing an additional 219 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $79,000. Balanced Wealth Group LLC raised its holdings in shares of Abbott Laboratories by 5.8% in the 3rd quarter. Balanced Wealth Group LLC now owns 3,816 shares of the healthcare product maker’s stock valued at $435,000 after purchasing an additional 209 shares during the period. Finally, Principal Securities Inc. raised its holdings in shares of Abbott Laboratories by 13.9% in the 3rd quarter. Principal Securities Inc. now owns 32,370 shares of the healthcare product maker’s stock valued at $3,691,000 after purchasing an additional 3,952 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 1.6 %

Shares of ABT opened at $137.99 on Friday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $138.37. The firm’s 50 day moving average is $123.08 and its 200-day moving average is $117.77. The stock has a market capitalization of $239.32 billion, a PE ratio of 18.04, a P/E/G ratio of 2.52 and a beta of 0.75. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.71%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research analyst reports. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Evercore ISI upped their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Barclays reissued an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

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.