Forsta AP Fonden Has $47.70 Million Position in Abbott Laboratories (NYSE:ABT)

Forsta AP Fonden lessened its position in Abbott Laboratories (NYSE:ABT) by 0.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 421,700 shares of the healthcare product maker’s stock after selling 400 shares during the period. Forsta AP Fonden’s holdings in Abbott Laboratories were worth $47,698,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Groupama Asset Managment increased its holdings in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Mizuho raised their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Price Performance

NYSE ABT opened at $127.28 on Wednesday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $129.85. The firm’s 50 day moving average is $115.71 and its 200-day moving average is $113.80. The company has a market capitalization of $220.76 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

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.