Dorsey & Whitney Trust CO LLC Sells 1,030 Shares of Abbott Laboratories (NYSE:ABT)

Dorsey & Whitney Trust CO LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,164 shares of the healthcare product maker’s stock after selling 1,030 shares during the quarter. Abbott Laboratories accounts for approximately 0.9% of Dorsey & Whitney Trust CO LLC’s investment portfolio, making the stock its 24th largest holding. Dorsey & Whitney Trust CO LLC’s holdings in Abbott Laboratories were worth $13,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Finally, True Wealth Design LLC increased its holdings in shares of Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 2.0 %

Shares of ABT traded up $1.97 during midday trading on Friday, hitting $102.04. The company had a trading volume of 11,960,252 shares, compared to its average volume of 5,814,460. The company’s 50-day simple moving average is $103.78 and its 200-day simple moving average is $109.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $177.51 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.52 and a beta of 0.72. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the business posted $1.08 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Evercore ISI dropped their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Finally, Citigroup dropped their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.18.

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.