Umpqua Bank Acquires 5,125 Shares of Abbott Laboratories (NYSE:ABT)

Umpqua Bank increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 88.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,921 shares of the healthcare product maker’s stock after purchasing an additional 5,125 shares during the quarter. Umpqua Bank’s holdings in Abbott Laboratories were worth $1,234,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ABT. State Street Corp grew its stake in shares of Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Abbott Laboratories by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after acquiring an additional 488,764 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after acquiring an additional 280,441 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Abbott Laboratories by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,940,321 shares of the healthcare product maker’s stock worth $1,463,680,000 after acquiring an additional 330,844 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Abbott Laboratories by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 11,277,123 shares of the healthcare product maker’s stock worth $1,275,555,000 after acquiring an additional 174,919 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. The trade was a 55.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,449 shares of company stock worth $15,463,316. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.5 %

ABT opened at $126.18 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $218.83 billion, a P/E ratio of 16.49, a P/E/G ratio of 2.52 and a beta of 0.70. The stock has a fifty day moving average of $128.51 and a 200-day moving average of $119.86.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Analyst Ratings Changes

ABT has been the subject of several research reports. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Barclays reissued an “overweight” rating and issued a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Evercore ISI raised their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

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.