Rhenman & Partners Asset Management AB Reduces Stock Position in Abbott Laboratories (NYSE:ABT)

Rhenman & Partners Asset Management AB cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,000 shares of the healthcare product maker's stock after selling 7,000 shares during the period. Abbott Laboratories makes up 1.5% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 27th biggest holding. Rhenman & Partners Asset Management AB's holdings in Abbott Laboratories were worth $14,478,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cape Investment Advisory Inc. boosted its holdings in Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after acquiring an additional 76 shares during the period. Cyrus J. Lawrence LLC boosted its stake in shares of Abbott Laboratories by 9.0% during the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after purchasing an additional 79 shares during the period. Jacobson & Schmitt Advisors LLC grew its holdings in shares of Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock worth $320,000 after purchasing an additional 80 shares during the last quarter. LMG Wealth Partners LLC increased its stake in shares of Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker's stock worth $244,000 after buying an additional 80 shares during the period. Finally, Glass Wealth Management Co LLC raised its holdings in Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker's stock valued at $299,000 after buying an additional 81 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

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Abbott Laboratories Stock Down 2.5 %

Abbott Laboratories stock traded down $3.23 during trading hours on Thursday, hitting $123.81. The stock had a trading volume of 2,969,702 shares, compared to its average volume of 6,972,399. The stock has a market capitalization of $214.73 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $130.88 and its 200-day moving average price is $121.17. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during 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 firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is presently 30.85%.

Analyst Ratings Changes

A number of research firms have issued reports on ABT. StockNews.com cut shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Argus upgraded Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Citigroup raised their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.94.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 949 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

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.