Abbott Laboratories $ABT Shares Purchased by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Abbott Laboratories by 1.0% in the second quarter, owning 731,821 shares worth approximately $99.5 million.
• Abbott Laboratories' Chief Financial Officer sold 5,550 shares at an average price of $134.55, decreasing their stake by 9.81%.
• Several analysts have adjusted their price targets for Abbott, with Mizuho raising it to $140.00 while Wells Fargo reduced it to $142.00, indicating a consensus rating of "Moderate Buy".

Public Employees Retirement System of Ohio raised its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 731,821 shares of the healthcare product maker's stock after buying an additional 6,930 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Abbott Laboratories were worth $99,535,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories in the first quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company reduced their price target on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. BTIG Research reduced their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $135.82 on Wednesday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market cap of $236.39 billion, a PE ratio of 17.02, a P/E/G ratio of 2.59 and a beta of 0.69. The firm has a 50 day simple moving average of $130.65 and a 200-day simple moving average of $131.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm earned $1.14 EPS. Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company 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 1.7%. Abbott Laboratories's payout ratio is currently 29.57%.

Abbott Laboratories Company 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.

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