GAM Holding AG Sells 7,020 Shares of Abbott Laboratories $ABT

GAM Holding AG reduced its position in Abbott Laboratories (NYSE:ABT) by 66.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,470 shares of the healthcare product maker’s stock after selling 7,020 shares during the period. GAM Holding AG’s holdings in Abbott Laboratories were worth $465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Trust Co lifted its position in shares of Abbott Laboratories by 109.8% during the third quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock valued at $3,939,000 after buying an additional 15,394 shares during the last quarter. Avanza Fonder AB raised its stake in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after acquiring an additional 655 shares in the last quarter. Seaview Investment Managers LLC acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $11,068,000. Guggenheim Capital LLC grew its holdings in Abbott Laboratories by 13.5% in the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock worth $13,457,000 after purchasing an additional 11,794 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of Abbott Laboratories by 12.1% during the second quarter. Vest Financial LLC now owns 592,300 shares of the healthcare product maker’s stock worth $80,559,000 after purchasing an additional 63,811 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

ABT opened at $124.15 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a 50 day moving average of $125.99 and a two-hundred day moving average of $129.61. The firm has a market capitalization of $215.88 billion, a PE ratio of 15.56, a P/E/G ratio of 2.06 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Jefferies Financial Group increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Evercore ISI dropped their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 29th. Finally, Benchmark began coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.