Alerus Financial NA Has $4.77 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Alerus Financial NA grew its holdings in Abbott Laboratories (NYSE:ABT) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,465 shares of the healthcare product maker’s stock after buying an additional 4,746 shares during the quarter. Alerus Financial NA’s holdings in Abbott Laboratories were worth $4,771,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Manchester Financial Inc. raised its stake in shares of Abbott Laboratories by 17.3% in the 1st quarter. Manchester Financial Inc. now owns 700 shares of the healthcare product maker’s stock valued at $55,000 after buying an additional 103 shares in the last quarter. Allen Investment Management LLC raised its stake in shares of Abbott Laboratories by 1.0% in the 1st quarter. Allen Investment Management LLC now owns 11,711 shares of the healthcare product maker’s stock valued at $924,000 after buying an additional 111 shares in the last quarter. Demars Financial Group LLC raised its stake in shares of Abbott Laboratories by 0.5% in the 1st quarter. Demars Financial Group LLC now owns 23,749 shares of the healthcare product maker’s stock valued at $1,874,000 after buying an additional 113 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Abbott Laboratories by 57.0% in the 1st quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. raised its stake in shares of Abbott Laboratories by 3.8% in the 1st quarter. Beaumont Asset Management L.L.C. now owns 3,186 shares of the healthcare product maker’s stock valued at $251,000 after buying an additional 117 shares in the last quarter. Institutional investors own 73.44% of the company’s stock.

In other news, VP Philip P. Boudreau sold 10,600 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the transaction, the vice president now owns 22,463 shares of the company’s stock, valued at approximately $1,841,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew H. Lane sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the completion of the transaction, the executive vice president now directly owns 107,090 shares in the company, valued at approximately $9,852,280. The disclosure for this sale can be found here. Insiders sold a total of 166,186 shares of company stock worth $15,359,524 in the last ninety days. Insiders own 1.70% of the company’s stock.

A number of brokerages recently issued reports on ABT. Zacks Investment Research cut shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 target price for the company. in a research report on Wednesday, April 15th. Raymond James increased their target price on shares of Abbott Laboratories from $92.00 to $102.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. increased 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. Barclays increased their target price on shares of Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Wednesday, February 12th. They set a “neutral” rating and a $96.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $99.47.

Shares of NYSE ABT traded up $2.82 during mid-day trading on Friday, hitting $94.92. The company’s stock had a trading volume of 10,138,477 shares, compared to its average volume of 6,674,505. The stock has a market cap of $162.91 billion, a price-to-earnings ratio of 47.70, a price-to-earnings-growth ratio of 3.82 and a beta of 0.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01. Abbott Laboratories has a one year low of $61.61 and a one year high of $100.00. The company’s fifty day simple moving average is $91.59 and its 200-day simple moving average is $86.03.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.47 billion. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 2.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 8th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Abbott Laboratories Profile

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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