Abbott Laboratories $ABT Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 373,334 shares of the healthcare product maker’s stock after buying an additional 617 shares during the period. Retirement Systems of Alabama’s holdings in Abbott Laboratories were worth $50,777,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ABT. Nuveen LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. raised its stake in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the period. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares in the last quarter. TD Asset Management Inc increased its position in shares of Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after purchasing an additional 1,721,523 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Barclays boosted their price target on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Raymond James Financial boosted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Mizuho boosted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Down 1.7%

Shares of NYSE:ABT opened at $124.42 on Thursday. The stock has a market cap of $216.55 billion, a P/E ratio of 15.59, a PEG ratio of 2.40 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The business has a fifty day moving average of $131.78 and a two-hundred day moving average of $131.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.