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

Bank Pictet & Cie Europe AG reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,290 shares of the healthcare product maker’s stock after selling 18,205 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Abbott Laboratories were worth $9,816,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Abbott Laboratories by 1.8% in the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after purchasing an additional 2,977,715 shares in the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 0.9% during the second quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock worth $10,656,964,000 after purchasing an additional 689,517 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Abbott Laboratories by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after buying an additional 1,390,554 shares during the period. Norges Bank bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $3,026,180,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Abbott Laboratories by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after buying an additional 68,613 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABT shares. Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday. Barclays increased their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Evercore ISI dropped their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, BTIG Research reissued a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

NYSE ABT opened at $125.30 on Friday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm has a market capitalization of $217.88 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. The firm’s fifty day moving average price is $126.04 and its two-hundred day moving average price is $129.69. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. 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 EPS for the current year.

Abbott Laboratories Increases Dividend

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

Abbott Laboratories Profile

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.