Enterprise Bank & Trust Co Has $2.71 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Enterprise Bank & Trust Co increased its position in Abbott Laboratories (NYSE:ABT) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,649 shares of the healthcare product maker’s stock after buying an additional 733 shares during the period. Abbott Laboratories accounts for approximately 1.4% of Enterprise Bank & Trust Co’s investment portfolio, making the stock its 22nd biggest holding. Enterprise Bank & Trust Co’s holdings in Abbott Laboratories were worth $2,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bamco Inc. NY grew its stake in shares of Abbott Laboratories by 37.2% in the 4th quarter. Bamco Inc. NY now owns 9,596 shares of the healthcare product maker’s stock valued at $834,000 after buying an additional 2,600 shares during the period. Fisher Asset Management LLC lifted its position in Abbott Laboratories by 1,199.2% in the 1st quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock valued at $281,226,000 after acquiring an additional 3,289,573 shares in the last quarter. Capital Wealth Planning LLC lifted its position in Abbott Laboratories by 6.3% in the 4th quarter. Capital Wealth Planning LLC now owns 529,600 shares of the healthcare product maker’s stock valued at $46,001,000 after acquiring an additional 31,200 shares in the last quarter. Alliancebernstein L.P. lifted its position in Abbott Laboratories by 4.5% in the 4th quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after acquiring an additional 610,015 shares in the last quarter. Finally, Alerus Financial NA lifted its position in Abbott Laboratories by 8.5% in the 1st quarter. Alerus Financial NA now owns 60,465 shares of the healthcare product maker’s stock valued at $4,771,000 after acquiring an additional 4,746 shares in the last quarter. Institutional investors own 73.64% of the company’s stock.

In related news, EVP Lisa D. Earnhardt sold 872 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $90.84, for a total value of $79,212.48. Following the completion of the transaction, the executive vice president now directly owns 72,946 shares in the company, valued at approximately $6,626,414.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randel William Woodgrift sold 3,724 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $93.18, for a total transaction of $347,002.32. Following the completion of the transaction, the senior vice president now owns 48,767 shares of the company’s stock, valued at $4,544,109.06. The disclosure for this sale can be found here. Insiders sold a total of 148,210 shares of company stock worth $13,893,200 in the last ninety days. 1.70% of the stock is currently owned by insiders.

ABT has been the topic of several recent research reports. Goldman Sachs Group cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and set a $84.00 price target on the stock. in a research report on Sunday, May 31st. UBS Group raised their price target on shares of Abbott Laboratories from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Citigroup raised their price target on shares of Abbott Laboratories from $87.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of Abbott Laboratories from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $107.00 target price on shares of Abbott Laboratories in a research report on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $100.13.

Shares of NYSE:ABT traded down $0.86 during mid-day trading on Friday, reaching $92.81. The company had a trading volume of 1,346,425 shares, compared to its average volume of 5,266,392. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55. The firm has a market cap of $165.69 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 3.83 and a beta of 0.97. The company’s 50-day moving average price is $90.89 and its 200-day moving average price is $87.23. Abbott Laboratories has a one year low of $61.61 and a one year high of $100.00.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.47 billion. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. Abbott Laboratories’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, research analysts anticipate that Abbott Laboratories will post 2.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, July 14th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. Abbott Laboratories’s payout ratio is 44.44%.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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