US Bancorp DE Has $387.36 Million Position in Abbott Laboratories (NYSE:ABT)

Key Points

• US Bancorp DE has reduced its stake in Abbott Laboratories by 1.6%, selling 46,239 shares, leaving them with approximately 2.92 million shares valued at $387.36 million.
• Abbott Laboratories reported quarterly earnings of $1.26 per share, meeting analysts' expectations, with a revenue of $11.14 billion, which exceeded estimates of $11.01 billion.
• The company declared a quarterly dividend of $0.59, representing a yield of 1.9%, with the payment date set for August 15th.

US Bancorp DE reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,920,157 shares of the healthcare product maker's stock after selling 46,239 shares during the period. US Bancorp DE owned 0.17% of Abbott Laboratories worth $387,360,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Three Seasons Wealth LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $1,428,000. Kelly Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $216,000. Voleon Capital Management LP purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $273,000. Bank Pictet & Cie Europe AG raised its stake in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the period. Finally, Edge Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ABT. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. BTIG Research reduced their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Evercore ISI boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given 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 target price of $144.47.

Abbott Laboratories Stock Up 0.4%

NYSE:ABT traded up $0.51 on Tuesday, hitting $130.44. 2,907,922 shares of the company's stock traded hands, compared to its average volume of 6,911,960. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 1 year low of $107.11 and a 1 year high of $141.23. The firm has a 50-day moving average price of $131.76 and a 200-day moving average price of $130.72. The company has a market cap of $226.94 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

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.