Alerus Financial NA Has $262,000 Stake in Abbott Laboratories (NYSE:ABT)

Alerus Financial NA lessened its position in Abbott Laboratories (NYSE:ABT) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,312 shares of the healthcare product maker’s stock after selling 208 shares during the period. Alerus Financial NA’s holdings in Abbott Laboratories were worth $262,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABT. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Wingate Wealth Advisors Inc. bought a new stake in Abbott Laboratories during the fourth quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Abbott Laboratories during the 4th quarter valued at $37,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 over the last quarter. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABT has been the subject of several analyst reports. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. UBS Group boosted their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America lifted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.94.

Abbott Laboratories Trading Down 0.4 %

Shares of ABT stock opened at $130.81 on Friday. The business has a 50-day moving average of $130.05 and a 200 day moving average of $120.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The stock has a market capitalization of $226.87 billion, a PE ratio of 17.10, a P/E/G ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last issued 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. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

About Abbott Laboratories

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.