Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,359 shares of the healthcare product maker’s stock after selling 26,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Abbott Laboratories were worth $22,360,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Benjamin Edwards Inc. increased its position in Abbott Laboratories by 57.0% during the first quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Abbott Laboratories by 374.3% during the first quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock valued at $28,000 after acquiring an additional 277 shares during the last quarter. Lion Street Advisors LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $31,000. Howard Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at about $32,000. Finally, AlphaCore Capital LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at about $33,000. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on ABT shares. Citigroup lifted their price target on shares of Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, April 17th. UBS Group lifted their target price on shares of Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. SVB Leerink reduced their price target on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Credit Suisse Group restated a “buy” rating and set a $106.00 price objective on shares of Abbott Laboratories in a report on Friday. Finally, Zacks Investment Research lowered Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 target price for the company. in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $99.47.
Shares of NYSE ABT traded up $1.08 during midday trading on Friday, hitting $91.47. The stock had a trading volume of 5,182,655 shares, compared to its average volume of 7,501,599. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $100.00. The company has a market capitalization of $159.89 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 3.75 and a beta of 0.98. The company has a fifty day moving average price of $90.01 and a 200 day moving average price of $85.74.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same period in the previous year, the company posted $0.63 earnings per share. Abbott Laboratories’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 2.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. Abbott Laboratories’s payout ratio is 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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