Abbott Laboratories $ABT Stock Holdings Trimmed by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System has reduced its holdings in Abbott Laboratories by 0.7%, owning approximately 1,528,387 shares valued at about $207.9 million.
• Analysts' consensus rating on Abbott Laboratories is currently a "Moderate Buy" with a price target of $146.17.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, with a dividend yield of 1.8%, set to be paid on November 17th.

New York State Teachers Retirement System reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,528,387 shares of the healthcare product maker's stock after selling 11,041 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Abbott Laboratories worth $207,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% during 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 last quarter. GAMMA Investing LLC grew its holdings in shares of Abbott Laboratories by 17.0% during the first quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker's stock valued at $5,103,000 after purchasing an additional 5,590 shares during the last quarter. Hemenway Trust Co LLC grew its holdings in Abbott Laboratories by 4.1% in the 1st quarter. Hemenway Trust Co LLC now owns 372,188 shares of the healthcare product maker's stock worth $49,371,000 after buying an additional 14,775 shares in the last quarter. Cushing Capital Partners LLC bought a new position in Abbott Laboratories in the 1st quarter worth approximately $804,000. Finally, Shepherd Financial Partners LLC grew its holdings in Abbott Laboratories by 4.5% in the 1st quarter. Shepherd Financial Partners LLC now owns 3,080 shares of the healthcare product maker's stock worth $408,000 after buying an additional 132 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho increased their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday. Benchmark initiated coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a "buy" rating and a $145.00 target price for the company. Finally, Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.17.

Abbott Laboratories Stock Down 2.9%

Shares of ABT opened at $129.35 on Thursday. The stock has a market cap of $225.13 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.53 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 12 month low of $110.86 and a 12 month high of $141.23. The company has a 50-day moving average price of $132.59 and a two-hundred day moving average price of $131.60.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts' consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed 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 of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were 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 owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

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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