Bank Pictet & Cie Europe AG Has $9.82 Million Stock Position in Abbott Laboratories $ABT

Bank Pictet & Cie Europe AG cut its stake in Abbott Laboratories (NYSE:ABT) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,290 shares of the healthcare product maker’s stock after selling 18,205 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Abbott Laboratories were worth $9,816,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ABT. IMG Wealth Management Inc. boosted its stake in shares of Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Anfield Capital Management LLC lifted its holdings in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in Abbott Laboratories in the second quarter valued at about $32,000. Curio Wealth LLC grew its stake in Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC increased its holdings in shares of Abbott Laboratories by 34.6% during the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $125.30 on Friday. The business’s 50-day simple moving average is $126.04 and its 200 day simple moving average is $129.69. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a market cap of $217.88 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.28 and a beta of 0.72. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABT shares. Mizuho boosted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Barclays raised their target price on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Evercore ISI cut their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.