Dorsey & Whitney Trust CO LLC Acquires 885 Shares of Abbott Laboratories (NYSE:ABT)

Dorsey & Whitney Trust CO LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,671 shares of the healthcare product maker’s stock after buying an additional 885 shares during the quarter. Abbott Laboratories accounts for about 1.4% of Dorsey & Whitney Trust CO LLC’s investment portfolio, making the stock its 12th biggest position. Dorsey & Whitney Trust CO LLC’s holdings in Abbott Laboratories were worth $17,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Camden National Bank boosted its holdings in shares of Abbott Laboratories by 1.5% in the fourth quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock valued at $844,000 after purchasing an additional 114 shares during the period. Morgan Stanley boosted its holdings in shares of Abbott Laboratories by 4.5% in the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after purchasing an additional 1,233,152 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 3.3% in the third quarter. Venturi Wealth Management LLC now owns 15,298 shares of the healthcare product maker’s stock valued at $1,807,000 after purchasing an additional 486 shares during the period. Center for Financial Planning Inc. boosted its holdings in shares of Abbott Laboratories by 3.1% in the third quarter. Center for Financial Planning Inc. now owns 15,430 shares of the healthcare product maker’s stock valued at $1,823,000 after purchasing an additional 471 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Abbott Laboratories by 13.0% in the third quarter. Van ECK Associates Corp now owns 27,264 shares of the healthcare product maker’s stock valued at $3,221,000 after purchasing an additional 3,138 shares during the period. 73.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABT stock traded down $4.51 during mid-day trading on Friday, hitting $113.50. 6,815,890 shares of the stock were exchanged, compared to its average volume of 4,802,289. The firm has a fifty day moving average of $119.21 and a 200 day moving average of $125.54. The company has a quick ratio of 1.46, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 52-week low of $105.36 and a 52-week high of $142.60. The company has a market cap of $200.15 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.87%. The business had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11 billion. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 4.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, April 13th. Abbott Laboratories’s payout ratio is currently 43.62%.

In related news, SVP Julie L. Tyler sold 462 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $119.29, for a total value of $55,111.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mary K. Moreland sold 400 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $119.31, for a total transaction of $47,724.00. The disclosure for this sale can be found here. Insiders sold a total of 7,896 shares of company stock worth $926,454 over the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

A number of brokerages recently issued reports on ABT. Morgan Stanley lowered their price target on Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, January 27th. UBS Group upped their target price on Abbott Laboratories from $138.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, January 27th. Credit Suisse Group upped their target price on Abbott Laboratories from $138.00 to $139.00 and gave the stock an “outperform” rating in a report on Thursday, January 27th. StockNews.com initiated coverage on Abbott Laboratories in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Wells Fargo & Company lowered their target price on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $138.83.

Abbott Laboratories Company Profile (Get Rating)

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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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