Livforsakringsbolaget Skandia Omsesidigt Has $5.72 Million Stake in Abbott Laboratories (NYSE:ABT)

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,136 shares of the healthcare product maker’s stock after selling 600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Abbott Laboratories were worth $5,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Norges Bank purchased a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Abbott Laboratories by 383.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock worth $945,453,000 after buying an additional 6,628,310 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $635,056,000. GAMMA Investing LLC boosted its stake in shares of Abbott Laboratories by 15,420.4% in the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock worth $676,866,000 after buying an additional 5,069,771 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after buying an additional 2,229,026 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the company’s 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 transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, The Goldman Sachs Group lifted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Stock Down 0.1%

Abbott Laboratories stock opened at $133.41 on Tuesday. The firm has a 50 day simple moving average of $130.77 and a 200 day simple moving average of $126.01. The firm has a market capitalization of $232.11 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

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

About Abbott Laboratories

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.