Livforsakringsbolaget Skandia Omsesidigt Lowers Stake in Abbott Laboratories (ABT)

Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in Abbott Laboratories (NYSE:ABT) by 20.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,417 shares of the healthcare product maker’s stock after selling 6,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Abbott Laboratories were worth $1,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Grassi Investment Management grew its position in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Grassi Investment Management now owns 123,859 shares of the healthcare product maker’s stock worth $9,086,000 after buying an additional 776 shares during the last quarter. City Holding Co. grew its position in shares of Abbott Laboratories by 1.6% in the 2nd quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after buying an additional 782 shares during the last quarter. Burns J W & Co. Inc. NY grew its position in Abbott Laboratories by 3.2% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 25,006 shares of the healthcare product maker’s stock worth $1,834,000 after purchasing an additional 785 shares during the last quarter. Fulton Bank N.A. grew its position in Abbott Laboratories by 4.3% during the 3rd quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after purchasing an additional 791 shares during the last quarter. Finally, Moody National Bank Trust Division grew its position in Abbott Laboratories by 7.3% during the 2nd quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after purchasing an additional 795 shares during the last quarter. Hedge funds and other institutional investors own 72.39% of the company’s stock.

Several analysts have commented on the stock. Cowen lifted their price objective on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Friday, August 3rd. Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Finally, Royal Bank of Canada boosted their target price on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $75.22.

In other news, insider Brian J. Blaser sold 58,200 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $68.79, for a total transaction of $4,003,578.00. Following the sale, the insider now owns 184,918 shares of the company’s stock, valued at $12,720,509.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the sale, the senior vice president now directly owns 125,471 shares in the company, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 203,297 shares of company stock valued at $14,018,743. 0.74% of the stock is currently owned by insiders.

Shares of ABT traded down $0.53 during mid-day trading on Thursday, reaching $68.53. The stock had a trading volume of 5,789,448 shares, compared to its average volume of 6,920,861. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a 52-week low of $54.32 and a 52-week high of $74.15. The firm has a market capitalization of $121.29 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.05 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. Abbott Laboratories’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Equities research analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 15th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Further Reading: Dividend Aristocrat Index

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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