Skandinaviska Enskilda Banken AB publ Has $48.35 Million Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Abbott Laboratories by 4.9%, selling 18,740 shares and now holding 364,515 shares valued at approximately $48.35 million.
• Abbott Laboratories has a market capitalization of $218.65 billion and reported a revenue of $11.14 billion for the last quarter, which surpassed analyst expectations.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 1.88%, with the ex-dividend date set for July 15th.

Skandinaviska Enskilda Banken AB publ decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 364,515 shares of the healthcare product maker's stock after selling 18,740 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Abbott Laboratories were worth $48,353,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $28,000. Finally, Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $32,000. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABT. BTIG Research reduced their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $1.03 during mid-day trading on Tuesday, hitting $127.38. 2,186,523 shares of the stock were exchanged, compared to its average volume of 6,945,545. Abbott Laboratories has a twelve month low of $102.78 and a twelve month high of $141.23. The company has a market cap of $221.63 billion, a P/E ratio of 15.97, a PEG ratio of 2.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock's fifty day simple moving average is $132.20 and its two-hundred day simple moving average is $130.19.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company posted $1.14 earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

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.