Bank Pictet & Cie Europe AG Buys 21,550 Shares of Abbott Laboratories $ABT

Bank Pictet & Cie Europe AG grew its stake in Abbott Laboratories (NYSE:ABT) by 68.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 53,109 shares of the healthcare product maker’s stock after buying an additional 21,550 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Abbott Laboratories were worth $5,249,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ABT. Farther Finance Advisors LLC grew its holdings in shares of Abbott Laboratories by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 84,377 shares of the healthcare product maker’s stock worth $8,339,000 after purchasing an additional 10,431 shares during the last quarter. Juncture Wealth Strategies LLC bought a new position in Abbott Laboratories during the 3rd quarter valued at about $658,000. Aureus Asset Management LLC boosted its position in Abbott Laboratories by 25.0% in the first quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock valued at $34,078,000 after buying an additional 66,422 shares in the last quarter. Thompson Investment Management Inc. grew its stake in Abbott Laboratories by 786.0% during the second quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker’s stock worth $1,276,000 after buying an additional 12,474 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in Abbott Laboratories during the second quarter worth about $4,889,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.6%

Shares of ABT stock traded down $1.62 on Tuesday, reaching $102.44. 4,496,161 shares of the stock were exchanged, compared to its average volume of 11,228,539. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The stock has a market cap of $177.26 billion, a PE ratio of 33.24, a P/E/G ratio of 1.94 and a beta of 0.59. The stock has a 50 day moving average price of $105.82 and a 200 day moving average price of $98.30.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 81.55%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABT. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of Abbott Laboratories in a research note on Friday, July 17th. Wolfe Research upgraded Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 13th. Wells Fargo & Company raised their price target on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Rothschild & Co Redburn upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $119.00 to $127.00 in a research report on Friday, October 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Abbott Laboratories 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.