First National Bank Sioux Falls Has $442,000 Position in Abbott Laboratories (NYSE:ABT)

First National Bank Sioux Falls trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,890 shares of the healthcare product maker’s stock after selling 319 shares during the quarter. First National Bank Sioux Falls’ holdings in Abbott Laboratories were worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $2,115,836,000. Capital Research Global Investors raised its holdings in shares of Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after purchasing an additional 7,527,778 shares during the period. Boston Partners grew its holdings in Abbott Laboratories by 12,577.8% during the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after purchasing an additional 3,742,912 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Abbott Laboratories by 41.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,009,838 shares of the healthcare product maker’s stock valued at $551,434,000 after buying an additional 1,477,671 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Abbott Laboratories by 2.3% during the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after purchasing an additional 1,457,847 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $0.23 on Thursday, hitting $104.65. The stock had a trading volume of 3,984,901 shares, compared to its average volume of 5,685,389. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market cap of $182.05 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $104.87 and its two-hundred day simple moving average is $110.13.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. The Goldman Sachs Group began coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Citigroup dropped their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Evercore ISI upped their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.64.

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.