BI Asset Management Fondsmaeglerselskab A S Purchases 25,200 Shares of Abbott Laboratories (NYSE:ABT)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 316,903 shares of the healthcare product maker’s stock after buying an additional 25,200 shares during the period. Abbott Laboratories accounts for approximately 1.5% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 22nd biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Abbott Laboratories were worth $25,007,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Firestone Capital Management purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $68,000. Benjamin Edwards Inc. raised its position 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 worth $25,000 after purchasing an additional 114 shares during the last quarter. Larson Financial Group LLC boosted its stake in Abbott Laboratories by 374.3% in the 1st quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after purchasing an additional 277 shares in the last quarter. Howard Wealth Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at about $32,000. Finally, Lion Street Advisors LLC bought a new stake in Abbott Laboratories during the 1st quarter valued at about $31,000. 74.89% of the stock is currently owned by hedge funds and other institutional investors.

ABT has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of Abbott Laboratories from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Friday, April 17th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, April 16th. SVB Leerink decreased their price target on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating for the company in a research note on Wednesday, April 8th. Cfra increased their price objective on Abbott Laboratories from $99.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Morgan Stanley reduced their price objective on Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $99.47.

In related news, EVP Andrew H. Lane sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Christopher J. Scoggins sold 414 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $96.10, for a total transaction of $39,785.40. Following the completion of the sale, the senior vice president now directly owns 39,706 shares of the company’s stock, valued at $3,815,746.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,186 shares of company stock valued at $15,359,524. Company insiders own 1.70% of the company’s stock.

NYSE ABT traded up $1.08 during trading hours on Friday, hitting $91.47. 5,182,655 shares of the company’s stock traded hands, compared to its average volume of 7,501,599. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $100.00. The firm has a market capitalization of $159.89 billion, a P/E ratio of 45.96, a P/E/G ratio of 3.75 and a beta of 0.98. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $90.01 and its two-hundred day moving average price is $85.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The business had revenue of $7.73 billion for the quarter, compared to analysts’ expectations 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 was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 2.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders 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 yield of 0.35%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

Abbott Laboratories Company 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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