Avanza Fonder AB Has $22.13 Million Holdings in Abbott Laboratories (NYSE:ABT)

Avanza Fonder AB decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,746 shares of the healthcare product maker's stock after selling 14,699 shares during the quarter. Abbott Laboratories makes up about 0.7% of Avanza Fonder AB's holdings, making the stock its 19th biggest position. Avanza Fonder AB's holdings in Abbott Laboratories were worth $22,131,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ABT. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC lifted its stake 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 worth $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares of the company's stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Stifel Nicolaus raised their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $0.39 during midday trading on Friday, reaching $136.84. 977,808 shares of the company were exchanged, compared to its average volume of 6,081,135. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $238.08 billion, a P/E ratio of 17.90, a PEG ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The stock has a fifty day simple moving average of $131.26 and a 200 day simple moving average of $126.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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 the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories 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.