Bank Pictet & Cie Europe AG Increases Stake in Abbott Laboratories (NYSE:ABT)

Bank Pictet & Cie Europe AG grew its position in Abbott Laboratories (NYSE:ABT) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,945 shares of the healthcare product maker’s stock after acquiring an additional 6,633 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Abbott Laboratories were worth $17,095,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABT. Boltwood Capital Management boosted its position in Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after acquiring an additional 89 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares during the period. Atwood & Palmer Inc. grew its position in Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after purchasing an additional 90 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Abbott Laboratories by 2.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after buying an additional 91 shares during the period. Finally, Hanson & Doremus Investment Management lifted its position in Abbott Laboratories by 0.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after buying an additional 92 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Stock Down 0.7 %

ABT stock opened at $116.12 on Wednesday. The stock has a market capitalization of $202.01 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a 50-day moving average of $114.31 and a two-hundred day moving average of $108.56. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.