Abbott Laboratories (NYSE:ABT) Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,312 shares of the healthcare product maker’s stock after purchasing an additional 13,457 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Abbott Laboratories were worth $14,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $28,000. Signature Resources Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI decreased their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Stock Up 0.5 %

Shares of ABT stock traded up $0.59 during trading hours on Friday, reaching $112.69. 4,511,637 shares of the stock were exchanged, compared to its average volume of 5,979,149. The business’s fifty day moving average is $106.15 and its two-hundred day moving average is $108.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a market capitalization of $196.04 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 1.95%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.