US Bancorp DE Has $342.06 Million Holdings in Abbott Laboratories (NYSE:ABT)

US Bancorp DE reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,107,648 shares of the healthcare product maker’s stock after selling 21,088 shares during the quarter. US Bancorp DE’s holdings in Abbott Laboratories were worth $342,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Abbott Laboratories by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after acquiring an additional 1,298,219 shares in the last quarter. Northern Trust Corp grew its position in Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after purchasing an additional 343,559 shares in the last quarter. Norges Bank purchased a new stake in Abbott Laboratories in the 4th quarter valued at about $2,115,836,000. Charles Schwab Investment Management Inc. lifted its position in shares of Abbott Laboratories by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,360,908 shares of the healthcare product maker’s stock worth $1,346,959,000 after buying an additional 207,031 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Abbott Laboratories by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,930,872 shares of the healthcare product maker’s stock worth $1,093,091,000 after buying an additional 236,741 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT traded down $0.58 on Thursday, reaching $104.24. The company had a trading volume of 3,201,313 shares, compared to its average volume of 5,623,830. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a market cap of $181.34 billion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 2.48 and a beta of 0.76. The business has a 50 day simple moving average of $108.59 and a 200 day simple moving average of $109.50.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous year, the firm posted $1.03 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ABT shares. Royal Bank of Canada lowered their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Barclays dropped their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Citigroup decreased their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.60.

Insider Buying and Selling

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders sold 46,884 shares of company stock worth $5,153,916 in the last quarter. 1.10% of the stock is owned by 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.