Abbott Laboratories $ABT Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,519,866 shares of the healthcare product maker’s stock after selling 8,521 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Abbott Laboratories worth $203,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the period. Jones Financial Companies Lllp boosted its position in Abbott Laboratories by 10.5% in the first quarter. Jones Financial Companies Lllp now owns 348,852 shares of the healthcare product maker’s stock valued at $45,837,000 after buying an additional 33,081 shares during the last quarter. Nova Wealth Management Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth approximately $50,000. Howe & Rusling Inc. raised its position in Abbott Laboratories by 6.4% during the 1st quarter. Howe & Rusling Inc. now owns 5,478 shares of the healthcare product maker’s stock worth $727,000 after buying an additional 329 shares during the last quarter. Finally, Kera Capital Partners Inc. boosted its holdings in shares of Abbott Laboratories by 11.3% in the 2nd quarter. Kera Capital Partners Inc. now owns 2,583 shares of the healthcare product maker’s stock valued at $351,000 after acquiring an additional 262 shares during 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 topic of several recent research reports. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. The Goldman Sachs Group raised their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Benchmark initiated coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.68.

Abbott Laboratories Price Performance

ABT stock opened at $125.95 on Friday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The firm has a market capitalization of $219.00 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.09 and a beta of 0.72. The business has a 50 day simple moving average of $126.13 and a 200-day simple moving average of $129.36.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, January 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.