Abbott Laboratories (NYSE:ABT) Shares Bought by Tredje AP fonden

Tredje AP fonden grew its holdings in Abbott Laboratories (NYSE:ABT) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 730,664 shares of the healthcare product maker’s stock after purchasing an additional 42,000 shares during the period. Tredje AP fonden’s holdings in Abbott Laboratories were worth $75,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the second quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $30,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, True Wealth Design LLC raised its position in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.4 %

Shares of Abbott Laboratories stock opened at $118.13 on Wednesday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a 50 day moving average of $109.88 and a 200 day moving average of $108.56. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $205.50 billion, a P/E ratio of 36.80, a P/E/G ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.