Danica Pension Livsforsikringsaktieselskab Buys 203,662 Shares of Abbott Laboratories $ABT

Key Points

• Danica Pension increased its Abbott Laboratories stake by 30.7% in the third quarter, adding 203,662 shares to reach 867,163 shares worth about $85.7 million.
• Abbott reported quarterly revenue of $13.01 billion, up 14.5% year over year, and earnings of $1.42 per share, matching analyst estimates.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $118.32; Abbott also announced a quarterly dividend of $0.63 per share, a 2.3% yield.

Danica Pension Livsforsikringsaktieselskab grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 30.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 867,163 shares of the healthcare product maker's stock after buying an additional 203,662 shares during the period. Abbott Laboratories accounts for approximately 1.4% of Danica Pension Livsforsikringsaktieselskab's holdings, making the stock its 13th biggest holding. Danica Pension Livsforsikringsaktieselskab owned approximately 0.05% of Abbott Laboratories worth $85,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Danske Bank A S raised its position in shares of Abbott Laboratories by 32.8% in the 3rd quarter. Danske Bank A S now owns 1,210,066 shares of the healthcare product maker's stock worth $119,591,000 after buying an additional 298,974 shares during the period. Dogwood Wealth Management LLC grew its position in Abbott Laboratories by 15.4% during the third quarter. Dogwood Wealth Management LLC now owns 705 shares of the healthcare product maker's stock valued at $70,000 after acquiring an additional 94 shares during the period. Cornerstone Advisory LLC grew its position in Abbott Laboratories by 13.8% during the third quarter. Cornerstone Advisory LLC now owns 6,596 shares of the healthcare product maker's stock valued at $652,000 after acquiring an additional 799 shares during the period. McElhenny Sheffield Capital Management LLC grew its position in Abbott Laboratories by 1.2% during the third quarter. McElhenny Sheffield Capital Management LLC now owns 13,173 shares of the healthcare product maker's stock valued at $1,302,000 after acquiring an additional 162 shares during the period. Finally, Hamel Associates Inc. increased its stake in Abbott Laboratories by 2.5% during the third quarter. Hamel Associates Inc. now owns 30,448 shares of the healthcare product maker's stock worth $3,009,000 after acquiring an additional 741 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other news, EVP Mary Moreland sold 3,500 shares of the company's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares in the company, valued at approximately $11,691,756. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 1.3%

Shares of NYSE:ABT traded up $1.34 during mid-day trading on Friday, hitting $108.59. 6,199,121 shares of the company traded hands, compared to its average volume of 9,559,261. The firm's 50 day simple moving average is $103.93 and its 200 day simple moving average is $101.74. The firm has a market cap of $188.08 billion, a P/E ratio of 40.52, a PEG ratio of 1.88 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.45. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, hitting analysts' consensus estimates of $1.42. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The firm had revenue of $13.01 billion during the quarter, compared to analysts' expectations of $12.99 billion. During the same quarter in the prior year, the business earned $1.30 EPS. Abbott Laboratories's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories's payout ratio is presently 94.03%.

Analyst Ratings Changes

ABT has been the topic of a number of research reports. Barclays assumed coverage on Abbott Laboratories in a report on Wednesday, October 7th. They issued an "overweight" rating and a $120.00 price objective on the stock. UBS Group decreased their target price on Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. BTIG Research dropped their target price on shares of Abbott Laboratories from $134.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Royal Bank Of Canada cut their price target on shares of Abbott Laboratories from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, October 22nd. Finally, Wall Street Zen raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average target price of $118.32.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott's offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.

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