Banque Pictet & Cie SA Trims Stock Position in Abbott Laboratories $ABT

Key Points

• Banque Pictet & Cie SA has reduced its stake in Abbott Laboratories by 12.4%, now owning 304,574 shares valued at approximately $41.4 million as of the latest SEC filing.
• Several hedge funds have recently adjusted their positions in Abbott Laboratories, with significant increases from firms like GAMMA Investing LLC and Goldman Sachs Group Inc..
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, which will be paid to shareholders on November 17th, reflecting a yield of 1.8%.

Banque Pictet & Cie SA reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,574 shares of the healthcare product maker's stock after selling 43,076 shares during the quarter. Banque Pictet & Cie SA's holdings in Abbott Laboratories were worth $41,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ABT. Nuveen LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at $1,658,180,000. GAMMA Investing LLC increased its position in Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after purchasing an additional 5,069,771 shares during the period. Goldman Sachs Group Inc. increased its position in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Wellington Management Group LLP grew its position in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Abbott Laboratories by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

ABT opened at $133.38 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a market capitalization of $232.13 billion, a P/E ratio of 16.71, a P/E/G ratio of 2.54 and a beta of 0.69. The company's 50-day simple moving average is $130.94 and its two-hundred day simple moving average is $131.14. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABT. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

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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