Bank Pictet & Cie Europe AG Sells 44,492 Shares of Abbott Laboratories (NYSE:ABT)

Bank Pictet & Cie Europe AG lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,227 shares of the healthcare product maker's stock after selling 44,492 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Abbott Laboratories were worth $14,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Three Seasons Wealth LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $1,428,000. Kelly Financial Services LLC bought a new position in Abbott Laboratories during the first quarter valued at approximately $216,000. Voleon Capital Management LP bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Abbott Laboratories by 5.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock valued at $133,691,000 after purchasing an additional 57,499 shares during the period. Finally, DSM Capital Partners LLC raised its position in shares of Abbott Laboratories by 75.6% in the fourth quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker's stock valued at $97,207,000 after purchasing an additional 370,049 shares during the period. Institutional investors own 75.18% of the company's stock.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 0.8%

ABT opened at $135.41 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm's fifty day moving average price is $131.50 and its two-hundred day moving average price is $126.47. The company has a market capitalization of $235.59 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.74%. Abbott Laboratories's dividend payout ratio is presently 30.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABT. Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Citigroup lifted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.59.

Abbott Laboratories Profile

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.

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