KLP Kapitalforvaltning AS Takes Position in Abbott Laboratories (NYSE:ABT)

KLP Kapitalforvaltning AS purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 584,399 shares of the healthcare product maker's stock, valued at approximately $66,101,000.

A number of other institutional investors have also recently added to or reduced their stakes in ABT. Welch Group LLC boosted its stake in shares of Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock worth $7,744,000 after acquiring an additional 3,479 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after purchasing an additional 57,499 shares in the last quarter. Bath Savings Trust Co grew its holdings in Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker's stock valued at $18,791,000 after purchasing an additional 5,881 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. Finally, Pensionfund Sabic purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $2,828,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABT. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Citigroup increased their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Finally, UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.94.

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Abbott Laboratories Trading Down 1.1 %

ABT stock traded down $1.40 on Tuesday, hitting $125.81. 2,295,990 shares of the company were exchanged, compared to its average volume of 5,480,421. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $218.20 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The business's fifty day moving average is $128.79 and its two-hundred day moving average is $120.04.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts' consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the firm posted $1.19 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,449 shares of company stock worth $15,463,316. Company 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.