24,992 Abbott Laboratories $ABT Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer reduced its Abbott Laboratories stake by 1.8%, selling 24,992 shares in the third quarter while retaining 1.36 million shares valued at approximately $134.7 million. Institutional investors collectively own 75.18% of ABT.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $118.32, despite Argus downgrading the stock to “hold.”
• Abbott reported quarterly revenue of $13.01 billion, up 14.5% year over year, and earnings of $1.42 per share. The company also announced a quarterly dividend of $0.63, representing a 2.4% annualized yield.

Bank Julius Baer & Co. Ltd Zurich trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362,466 shares of the healthcare product maker's stock after selling 24,992 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.08% of Abbott Laboratories worth $134,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinkerton Wealth LLC lifted its holdings in shares of Abbott Laboratories by 29.9% during the 3rd quarter. Pinkerton Wealth LLC now owns 58,548 shares of the healthcare product maker's stock valued at $5,786,000 after purchasing an additional 13,473 shares in the last quarter. Columbia Bank increased its holdings in Abbott Laboratories by 14.9% during the 3rd quarter. Columbia Bank now owns 16,670 shares of the healthcare product maker's stock worth $1,647,000 after purchasing an additional 2,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $189,841,000. Aviance Capital Partners LLC increased its holdings in Abbott Laboratories by 3.0% during the 3rd quarter. Aviance Capital Partners LLC now owns 26,070 shares of the healthcare product maker's stock worth $2,576,000 after acquiring an additional 753 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in Abbott Laboratories in the third quarter worth approximately $8,487,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABT shares. Wells Fargo & Company upped their price target on Abbott Laboratories from $112.00 to $119.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Argus lowered shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a report on Tuesday, October 27th. Weiss Ratings raised Abbott Laboratories from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 18th. Barclays began coverage on Abbott Laboratories in a report on Wednesday, October 7th. They issued an "overweight" rating and a $120.00 price target for the company. Finally, Wall Street Zen raised Abbott Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.32.

Abbott Laboratories Stock Performance

Shares of ABT opened at $106.33 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $104.36 and a 200 day simple moving average of $102.06. The stock has a market capitalization of $183.99 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.86 and a beta of 0.54. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $132.02.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting analysts' consensus estimates of $1.42. The firm had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. Abbott Laboratories's dividend payout ratio (DPR) is presently 94.03%.

Trending Headlines about Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women's health and cardiometabolic care.

The company's nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.

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