Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 40,900 Shares of Abbott Laboratories (NYSE:ABT)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Abbott Laboratories by 14.1%, now holding 248,488 shares worth approximately $32.96 million.
• Abbott Laboratories reported revenue of $11.14 billion for the last quarter, exceeding analysts' expectations, with earnings per share meeting estimates at $1.26.
• Several analysts have raised their price targets for Abbott Laboratories, with the consensus rating now at "Moderate Buy" and an average target price of $144.47.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,488 shares of the healthcare product maker's stock after selling 40,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Abbott Laboratories were worth $32,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ABT. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $28,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $32,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $2.38 during mid-day trading on Friday, hitting $131.66. 6,784,441 shares of the company were exchanged, compared to its average volume of 6,973,725. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $131.40 and a 200 day moving average of $131.20. Abbott Laboratories has a 1-year low of $110.33 and a 1-year high of $141.23. The company has a market capitalization of $229.15 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Mizuho lifted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

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.