Skandinaviska Enskilda Banken AB publ Raises Stock Position in Abbott Laboratories (NYSE:ABT)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,018 shares of the healthcare product maker’s stock after purchasing 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 quarter.

Other institutional investors also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its stake in shares of Abbott Laboratories by 17.4% in the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after acquiring an additional 1,120 shares during the period. Accretive Wealth Partners LLC raised its stake in shares of Abbott Laboratories by 1.2% in the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares during the period. Aveo Capital Partners LLC raised its stake in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after acquiring an additional 413 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of Abbott Laboratories by 3.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after acquiring an additional 3,767 shares during the period. Finally, TrinityPoint Wealth LLC raised its stake in shares of Abbott Laboratories by 1.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock valued at $2,339,000 after acquiring an additional 376 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.6 %

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 52 week low of $89.67 and a 52 week high of $121.64. The stock has a market capitalization 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 has a 50 day moving average of $110.32 and a two-hundred day moving average of $108.64.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABT. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $123.33.

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.