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

US Bancorp DE lowered its stake in Abbott Laboratories (NYSE:ABT) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,966,396 shares of the healthcare product maker’s stock after selling 78,905 shares during the period. US Bancorp DE’s holdings in Abbott Laboratories were worth $335,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. LMG Wealth Partners LLC boosted its position in Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 80 shares in the last quarter. Jacobson & Schmitt Advisors LLC raised its stake in shares of Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock valued at $320,000 after acquiring an additional 80 shares during the last quarter. Sfmg LLC raised its stake in shares of Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after acquiring an additional 88 shares during the last quarter. River Street Advisors LLC raised its stake in shares of Abbott Laboratories by 1.2% during the fourth quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock valued at $834,000 after acquiring an additional 88 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its stake in shares of Abbott Laboratories by 8.7% during the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

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

Abbott Laboratories Trading Up 1.6 %

ABT opened at $137.99 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $138.37. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $239.32 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75. The company has a fifty day moving average price of $123.08 and a two-hundred day moving average price of $117.77.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during 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 business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Abbott Laboratories 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.