Dorsey & Whitney Trust CO LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 148,895 shares of the healthcare product maker’s stock after buying an additional 10,619 shares during the period. Abbott Laboratories makes up approximately 1.4% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 18th largest holding. Dorsey & Whitney Trust CO LLC’s holdings in Abbott Laboratories were worth $7,237,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new stake in Abbott Laboratories during the 2nd quarter valued at $237,000. Norinchukin Bank The raised its holdings in Abbott Laboratories by 4.4% during the 2nd quarter. Norinchukin Bank The now owns 209,696 shares of the healthcare product maker’s stock valued at $10,193,000 after buying an additional 8,898 shares during the period. Vestor Capital LLC raised its holdings in Abbott Laboratories by 0.4% during the 2nd quarter. Vestor Capital LLC now owns 184,999 shares of the healthcare product maker’s stock valued at $8,993,000 after buying an additional 694 shares during the period. Ameriprise Financial Inc. raised its holdings in Abbott Laboratories by 3.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,126,028 shares of the healthcare product maker’s stock valued at $443,646,000 after buying an additional 302,629 shares during the period. Finally, Chemical Bank raised its holdings in Abbott Laboratories by 0.5% during the 2nd quarter. Chemical Bank now owns 156,493 shares of the healthcare product maker’s stock valued at $7,607,000 after buying an additional 729 shares during the period. Institutional investors own 71.01% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at $54.66 on Thursday. Abbott Laboratories has a 12-month low of $37.42 and a 12-month high of $56.69. The firm has a market capitalization of $95,367.53, a PE ratio of 22.73, a P/E/G ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s payout ratio is currently 83.47%.
In other Abbott Laboratories news, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at $572,900.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the sale, the insider now owns 113,426 shares of the company’s stock, valued at $6,005,906.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,127 shares of company stock worth $16,958,579. 0.76% of the stock is owned by corporate insiders.
Several brokerages have commented on ABT. Citigroup began coverage on Abbott Laboratories in a research report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price objective on the stock. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, September 22nd. Barclays upped their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co began coverage on Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $56.81.
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About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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