Abbott Laboratories (NYSE:ABT) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,018 shares of the healthcare product maker’s stock after buying an additional 5,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Abbott Laboratories were worth $36,474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the last quarter. Capital Research Global Investors raised its position in Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after purchasing an additional 7,527,778 shares during the last quarter. Capital International Investors raised its position in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after purchasing an additional 5,882,780 shares during the last quarter. Wellington Management Group LLP raised its position in Abbott Laboratories by 3.3% in the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after purchasing an additional 1,027,390 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Abbott Laboratories by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,922,170 shares of the healthcare product maker’s stock valued at $1,092,133,000 after purchasing an additional 228,039 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Piper Sandler initiated coverage on shares of Abbott Laboratories in a research report on Thursday. They set an “overweight” rating and a $131.00 price objective for the company. Evercore ISI cut their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday. They set an “overweight” rating and a $131.00 price objective for the company. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $114.15 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock has a market cap of $198.58 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The firm’s fifty day simple moving average is $110.32 and its 200-day simple moving average is $108.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. Analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

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.