GAM Holding AG Reduces Stock Position in Abbott Laboratories (NYSE:ABT)

GAM Holding AG lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,193 shares of the healthcare product maker’s stock after selling 619 shares during the period. GAM Holding AG’s holdings in Abbott Laboratories were worth $1,352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $26,000. NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.4%

Shares of NYSE:ABT opened at $132.88 on Friday. The stock’s 50-day moving average price is $132.19 and its 200-day moving average price is $126.95. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The stock has a market capitalization of $231.20 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.78%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABT. Bank of America upped their price target 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. Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Raymond James Financial increased their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Royal Bank Of Canada increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.61.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.