Swedbank AB Has $310.95 Million Stake in Abbott Laboratories (NYSE:ABT)

Swedbank AB lowered its holdings in Abbott Laboratories (NYSE:ABT) by 0.5% during the second quarter, Holdings Channel.com reports. The firm owned 2,992,473 shares of the healthcare product maker’s stock after selling 14,539 shares during the period. Swedbank AB’s holdings in Abbott Laboratories were worth $310,948,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ABT. Norges Bank bought a new stake in Abbott Laboratories during the 4th quarter worth about $2,115,836,000. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 5.6% in the first 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 in 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 worth $9,530,825,000 after purchasing an additional 7,527,778 shares during the last quarter. Capital International Investors lifted its holdings in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Finally, Boston Partners boosted its position in Abbott Laboratories by 12,577.8% in the 4th quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after buying an additional 3,742,912 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABT shares. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup lowered their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Abbott Laboratories Stock Up 0.1 %

ABT traded up $0.06 during trading on Friday, reaching $111.00. The company had a trading volume of 4,627,433 shares, compared to its average volume of 6,033,353. The business’s fifty day moving average price is $105.40 and its 200 day moving average price is $108.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a market cap of $193.10 billion, a P/E ratio of 34.61, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the business earned $1.08 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

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.