Handelsbanken Fonder AB Reduces Holdings in Abbott Laboratories (NYSE:ABT)

Handelsbanken Fonder AB cut its stake in Abbott Laboratories (NYSE:ABT) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,344,134 shares of the healthcare product maker’s stock after selling 348,420 shares during the period. Abbott Laboratories comprises approximately 0.6% of Handelsbanken Fonder AB’s portfolio, making the stock its 27th largest position. Handelsbanken Fonder AB owned approximately 0.08% of Abbott Laboratories worth $152,035,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LMG Wealth Partners LLC lifted its holdings in shares of Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock valued at $320,000 after buying an additional 80 shares during the last quarter. Insight Folios Inc boosted its holdings in shares of Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after acquiring an additional 87 shares during the period. Sfmg LLC grew its position in shares of Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after acquiring an additional 88 shares during the last quarter. Finally, River Street Advisors LLC increased its holdings in shares of Abbott Laboratories by 1.2% in the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock valued at $834,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Barclays reissued an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. UBS Group boosted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $132.18 on Thursday. The business has a 50 day moving average price of $119.93 and a 200 day moving average price of $116.53. The company has a market capitalization of $229.26 billion, a P/E ratio of 17.28, a PEG ratio of 2.44 and a beta of 0.75. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its quarterly 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 business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business’s 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Abbott Laboratories 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.