Abbott Laboratories (NYSE:ABT) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Abbott Laboratories (NYSE:ABT) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 766,211 shares of the healthcare product maker’s stock after selling 39,624 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Abbott Laboratories were worth $86,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. Welch Group LLC lifted its position in Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock worth $7,744,000 after acquiring an additional 3,479 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after purchasing an additional 57,499 shares during the period. Bath Savings Trust Co lifted its position in shares of Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after purchasing an additional 5,881 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Pensionfund Sabic purchased a new stake in Abbott Laboratories during the 4th quarter worth $2,828,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $130.81 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm has a market capitalization of $226.87 billion, a PE ratio of 17.10, a P/E/G ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business’s fifty day moving average price is $130.05 and its two-hundred day moving average price is $120.37.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the business posted $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABT shares. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.94.

Insider Transactions at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by corporate insiders.

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.