Abbott Laboratories (NYSE:ABT) Holdings Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,692,554 shares of the healthcare product maker’s stock after purchasing an additional 77,091 shares during the period. Abbott Laboratories accounts for 0.8% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 18th biggest holding. Handelsbanken Fonder AB owned 0.10% of Abbott Laboratories worth $192,968,000 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. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at $30,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $0.41 on Friday, reaching $112.64. 4,366,288 shares of the stock were exchanged, compared to its average volume of 5,757,640. The stock has a market cap of $195.95 billion, a PE ratio of 35.09, a PEG ratio of 2.86 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The firm has a fifty day moving average price of $112.37 and a two-hundred day moving average price of $108.19.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABT. Jefferies Financial Group restated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a report on Thursday, September 26th. Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Evercore ISI upped their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Piper Sandler initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.33.

Abbott Laboratories Company 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.