Handelsbanken Fonder AB Grows Stake in Abbott Laboratories (NYSE:ABT)

Handelsbanken Fonder AB boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 32.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,467,408 shares of the healthcare product maker’s stock after purchasing an additional 362,969 shares during the quarter. Abbott Laboratories comprises about 1.1% of Handelsbanken Fonder AB’s portfolio, making the stock its 12th biggest position. Handelsbanken Fonder AB’s holdings in Abbott Laboratories were worth $134,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AllSquare Wealth Management LLC increased its holdings in Abbott Laboratories by 560.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 330 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 280 shares during the period. RPG Investment Advisory LLC increased its holdings in shares of Abbott Laboratories by 113.4% in the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 203 shares during the period. Bay Harbor Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 159.9% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 275 shares during the period. Solstein Capital LLC increased its holdings in shares of Abbott Laboratories by 43.6% in the 1st quarter. Solstein Capital LLC now owns 560 shares of the healthcare product maker’s stock valued at $44,000 after acquiring an additional 170 shares during the period. Finally, Islay Capital Management LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at $46,000. Institutional investors own 73.09% of the company’s stock.

ABT traded up $0.60 on Tuesday, reaching $106.29. 171,687 shares of the stock were exchanged, compared to its average volume of 7,492,290. The company’s 50-day moving average price is $102.92 and its 200 day moving average price is $91.69. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $114.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10. The firm has a market capitalization of $187.13 billion, a PE ratio of 61.75, a PEG ratio of 2.91 and a beta of 0.96.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 3.27 earnings per share for the current fiscal year.

In other news, Director Roxanne S. Austin sold 6,844 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $99.80, for a total value of $683,031.20. Following the completion of the transaction, the director now owns 40,043 shares of the company’s stock, valued at approximately $3,996,291.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $111.86, for a total value of $4,751,700.94. Following the completion of the transaction, the executive vice president now directly owns 144,912 shares of the company’s stock, valued at approximately $16,209,856.32. The disclosure for this sale can be found here. In the last three months, insiders sold 78,621 shares of company stock valued at $8,373,428. Insiders own 1.70% of the company’s stock.

ABT has been the topic of a number of analyst reports. Credit Suisse Group lifted their price target on Abbott Laboratories from $109.00 to $136.00 and gave the company an “outperform” rating in a report on Monday, August 31st. SVB Leerink lifted their price target on Abbott Laboratories from $97.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Wolfe Research initiated coverage on Abbott Laboratories in a report on Friday. They issued an “outperform” rating and a $124.00 price target on the stock. Argus lifted their price target on Abbott Laboratories from $110.00 to $125.00 in a report on Thursday, July 23rd. Finally, Goldman Sachs Group set a $94.00 target price on Abbott Laboratories and gave the stock a “sell” rating in a research note on Wednesday, September 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Hold” and an average price target of $111.19.

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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