Abbott Laboratories (ABT) Stake Lowered by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,682,242 shares of the healthcare product maker’s stock after selling 64,256 shares during the period. Pictet Asset Management Ltd. owned 0.10% of Abbott Laboratories worth $123,409,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in Abbott Laboratories by 0.9% in the third quarter. BlackRock Inc. now owns 117,203,489 shares of the healthcare product maker’s stock valued at $8,598,048,000 after acquiring an additional 1,053,749 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Abbott Laboratories by 102,159.4% in the third quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after acquiring an additional 27,208,125 shares during the last quarter. Morgan Stanley boosted its holdings in Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after acquiring an additional 5,274,307 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Abbott Laboratories by 12.0% in the second quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after acquiring an additional 1,468,430 shares during the last quarter. Finally, FMR LLC boosted its holdings in Abbott Laboratories by 9.0% in the third quarter. FMR LLC now owns 10,890,867 shares of the healthcare product maker’s stock valued at $798,955,000 after acquiring an additional 896,087 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

Shares of ABT opened at $74.27 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. Abbott Laboratories has a 12 month low of $54.32 and a 12 month high of $74.92. The stock has a market cap of $130.06 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 2.20 and a beta of 1.40.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

In related news, Chairman Miles D. White sold 142,341 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total value of $10,298,371.35. Following the transaction, the chairman now owns 3,459,185 shares in the company, valued at $250,272,034.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian J. Blaser sold 58,200 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $68.79, for a total value of $4,003,578.00. Following the completion of the transaction, the insider now owns 184,918 shares in the company, valued at approximately $12,720,509.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,273 shares of company stock worth $19,410,942. Insiders own 0.74% of the company’s stock.

ABT has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Cowen boosted their price objective on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research note on Friday, October 5th. UBS Group began coverage on Abbott Laboratories in a research note on Tuesday, November 27th. They set a “buy” rating and a $83.00 price objective on the stock. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $78.00 to $81.00 in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $76.00.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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