Swedbank AB Sells 547,307 Shares of Abbott Laboratories (NYSE:ABT)

Swedbank AB reduced its position in Abbott Laboratories (NYSE:ABT) by 24.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,705,589 shares of the healthcare product maker’s stock after selling 547,307 shares during the quarter. Swedbank AB owned about 0.10% of Abbott Laboratories worth $192,919,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ABT. Groupama Asset Managment lifted its stake in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE:ABT traded up $1.66 during trading hours on Wednesday, hitting $129.05. 942,449 shares of the stock were exchanged, compared to its average volume of 6,937,176. The firm’s fifty day moving average price is $115.71 and its 200 day moving average price is $113.80. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85. The company has a market cap of $223.83 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.51 and a beta of 0.73. 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 (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several brokerages have commented on ABT. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. UBS Group lifted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

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.