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

New York State Teachers Retirement System trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,519,866 shares of the healthcare product maker’s stock after selling 8,521 shares during the quarter. New York State Teachers Retirement System’s holdings in Abbott Laboratories were worth $203,571,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABT. Citizens & Northern Corp boosted its position in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Citizens & Northern Corp now owns 21,875 shares of the healthcare product maker’s stock worth $2,930,000 after purchasing an additional 79 shares during the period. Washington Trust Bank lifted its stake in Abbott Laboratories by 0.9% during the third quarter. Washington Trust Bank now owns 20,430 shares of the healthcare product maker’s stock worth $2,736,000 after purchasing an additional 178 shares in the last quarter. Associated Banc Corp grew its stake in shares of Abbott Laboratories by 3.8% in the third quarter. Associated Banc Corp now owns 128,811 shares of the healthcare product maker’s stock valued at $17,253,000 after buying an additional 4,720 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of Abbott Laboratories by 5.6% in the 3rd quarter. Forum Financial Management LP now owns 62,932 shares of the healthcare product maker’s stock valued at $8,429,000 after buying an additional 3,337 shares during the period. Finally, Phillips Financial Management LLC lifted its stake in Abbott Laboratories by 49.8% during the 3rd quarter. Phillips Financial Management LLC now owns 3,887 shares of the healthcare product maker’s stock worth $521,000 after acquiring an additional 1,292 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2%

Abbott Laboratories stock opened at $125.95 on Friday. The stock has a market cap of $219.00 billion, a PE ratio of 15.78, a P/E/G ratio of 2.09 and a beta of 0.72. 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 stock’s fifty day moving average is $126.13 and its two-hundred day moving average is $129.36. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter 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, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS 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 represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABT. BTIG Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 29th. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Mizuho upped their price objective 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, Wells Fargo & Company boosted their target price on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Two 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. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.68.

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.