Abbott Laboratories (NYSE:ABT) Shares Acquired by Umpqua Bank

Umpqua Bank lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 88.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,921 shares of the healthcare product maker's stock after buying an additional 5,125 shares during the period. Umpqua Bank's holdings in Abbott Laboratories were worth $1,234,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares during the period. Rialto Wealth Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $29,000. Wingate Wealth Advisors Inc. purchased a new position in Abbott Laboratories in the 4th quarter valued at approximately $34,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at $37,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.7 %

Shares of NYSE ABT traded up $0.86 during trading hours on Wednesday, hitting $126.46. 6,053,463 shares of the stock were exchanged, compared to its average volume of 5,471,811. The company has a market cap of $219.31 billion, a PE ratio of 16.53, a PEG ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $129.35 and a 200-day moving average price of $120.16.

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Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts' consensus estimates of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 earnings per share. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's payout ratio is currently 30.85%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America increased their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. UBS Group upped their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.94.

Insider Buying and Selling

In related news, SVP Eric Shroff sold 562 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is owned by company 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.