Umpqua Bank Has $1.23 Million Holdings in Abbott Laboratories (NYSE:ABT)

Umpqua Bank boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 88.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $137.94.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $126.18 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a market cap of $218.83 billion, a PE ratio of 16.49, a PEG ratio of 2.52 and a beta of 0.70. The company’s 50-day moving average is $128.51 and its two-hundred day moving average is $119.86.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the company posted $1.19 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company 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. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the 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 in the company, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock worth $15,463,316 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.