Livforsakringsbolaget Skandia Omsesidigt Sells 32,600 Shares of Abbott Laboratories $ABT

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 72.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,436 shares of the healthcare product maker’s stock after selling 32,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Abbott Laboratories were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Freemont Management S.A. boosted its position in Abbott Laboratories by 197.2% in the fourth quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker’s stock worth $1,341,000 after purchasing an additional 7,100 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $116,580,000. Thrivent Financial for Lutherans lifted its stake in shares of Abbott Laboratories by 24.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker’s stock worth $30,931,000 after purchasing an additional 48,286 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of Abbott Laboratories in the third quarter worth approximately $185,640,000. Finally, Net Worth Advisory Group bought a new stake in Abbott Laboratories during the fourth quarter valued at approximately $1,366,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT opened at $89.27 on Thursday. The company has a 50 day simple moving average of $89.33 and a two-hundred day simple moving average of $102.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market cap of $155.49 billion, a P/E ratio of 25.01, a PEG ratio of 1.53 and a beta of 0.61. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. Abbott Laboratories’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS. Equities analysts forecast that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.8%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 70.59%.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent research reports. Mizuho decreased their price target on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Daiwa Securities Group lowered Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Wednesday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price on shares of Abbott Laboratories in a report on Monday, June 22nd. Benchmark lowered their target price on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Finally, Leerink Partners cut their price target on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.61.

Insider Activity

In other Abbott Laboratories news, Director Daniel J. Starks acquired 10,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average price of $92.65 per share, with a total value of $926,500.00. Following the completion of the purchase, the director directly owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Philip P. Boudreau bought 2,200 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average price of $91.50 per share, with a total value of $201,300.00. Following the transaction, the chief financial officer directly owned 2,200 shares of the company’s stock, valued at $201,300. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is owned by insiders.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.