Union Bancaire Privee UBP SA Lowers Stake in Abbott Laboratories $ABT

Union Bancaire Privee UBP SA cut its position in Abbott Laboratories (NYSE:ABT) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,289 shares of the healthcare product maker’s stock after selling 20,132 shares during the period. Union Bancaire Privee UBP SA’s holdings in Abbott Laboratories were worth $26,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Sanders Morris Harris LLC bought a new position in Abbott Laboratories in the 3rd quarter worth $974,000. Werlinich Asset Management LLC boosted its stake in shares of Abbott Laboratories by 4.4% in the third quarter. Werlinich Asset Management LLC now owns 14,370 shares of the healthcare product maker’s stock worth $1,925,000 after acquiring an additional 600 shares during the period. Mirador Capital Partners LP grew its position in shares of Abbott Laboratories by 4.7% during the third quarter. Mirador Capital Partners LP now owns 3,110 shares of the healthcare product maker’s stock worth $417,000 after purchasing an additional 140 shares in the last quarter. Keb Asset Management LLC raised its stake in Abbott Laboratories by 9.0% during the 3rd quarter. Keb Asset Management LLC now owns 4,014 shares of the healthcare product maker’s stock valued at $538,000 after purchasing an additional 331 shares during the period. Finally, Steph & Co. lifted its holdings in Abbott Laboratories by 4.8% in the 3rd quarter. Steph & Co. now owns 1,852 shares of the healthcare product maker’s stock worth $248,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday. BTIG Research restated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. Finally, Evercore ISI reduced their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $126.96 on Wednesday. The firm has a fifty day simple moving average of $127.23 and a two-hundred day simple moving average of $130.39. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $220.76 billion, a P/E ratio of 15.91, a PEG ratio of 2.34 and a beta of 0.72.

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

Abbott Laboratories Increases Dividend

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

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.