Handelsbanken Fonder AB Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Handelsbanken Fonder AB cut its holdings in Abbott Laboratories (NYSE:ABT) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,308,351 shares of the healthcare product maker’s stock after selling 35,783 shares during the quarter. Abbott Laboratories accounts for 0.7% of Handelsbanken Fonder AB’s portfolio, making the stock its 22nd biggest holding. Handelsbanken Fonder AB owned 0.08% of Abbott Laboratories worth $173,553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. NewSquare Capital LLC lifted its position in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.1%

Shares of ABT opened at $133.41 on Tuesday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company’s fifty day moving average is $130.77 and its two-hundred day moving average is $126.01. The firm has a market cap of $232.11 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ABT shares. Stifel Nicolaus boosted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Bank of America increased their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.59.

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.