GAM Holding AG Decreases Stake in Abbott Laboratories $ABT

GAM Holding AG lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 66.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,470 shares of the healthcare product maker’s stock after selling 7,020 shares during the quarter. GAM Holding AG’s holdings in Abbott Laboratories were worth $465,000 as of its most recent SEC filing.

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

Abbott Laboratories Stock Down 0.9%

NYSE:ABT opened at $124.15 on Friday. The company has a market cap of $215.88 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $125.99 and a 200-day simple moving average of $129.61.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the firm posted $1.21 EPS. The firm’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. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared 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. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Mizuho raised their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Evercore ISI reduced their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Raymond James Financial raised their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price 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.