Abbott Laboratories $ABT Position Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in Abbott Laboratories (NYSE:ABT) by 49.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,136,883 shares of the healthcare product maker’s stock after buying an additional 378,353 shares during the quarter. Pictet Asset Management Holding SA owned 0.07% of Abbott Laboratories worth $112,358,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Elwood & Goetz Wealth Advisory Group LLC grew its position in shares of Abbott Laboratories by 3.1% during the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock valued at $318,000 after acquiring an additional 97 shares during the period. Parkway Wealth Management Group LLC increased its stake in shares of Abbott Laboratories by 3.2% during the 3rd quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after purchasing an additional 98 shares during the last quarter. Signature Equity Partners LLC raised its holdings in shares of Abbott Laboratories by 7.9% in the 3rd quarter. Signature Equity Partners LLC now owns 1,363 shares of the healthcare product maker’s stock worth $135,000 after purchasing an additional 100 shares during the period. St. Johns Investment Management Company LLC raised its holdings in shares of Abbott Laboratories by 1.0% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after purchasing an additional 101 shares during the period. Finally, AA Financial Advisors LLC lifted its stake in Abbott Laboratories by 1.7% in the third quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock valued at $611,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the sale, the executive vice president owned 100,791 shares of the company’s stock, valued at $11,691,756. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $110.02 on Monday. The firm has a market capitalization of $190.38 billion, a P/E ratio of 41.05, a PEG ratio of 1.93 and a beta of 0.54. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.00. The business has a fifty day moving average price of $104.04 and a 200-day moving average price of $101.78.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The firm had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 94.03%.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Argus lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Robert W. Baird upped their price target on Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Weiss Ratings upgraded Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $118.32.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.