State of Alaska Department of Revenue Buys 49,005 Shares of Abbott Laboratories (NYSE:ABT)

State of Alaska Department of Revenue boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 24.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,749 shares of the healthcare product maker's stock after buying an additional 49,005 shares during the quarter. State of Alaska Department of Revenue's holdings in Abbott Laboratories were worth $32,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tallon Kerry Patrick bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $200,000. LaFleur & Godfrey LLC grew its stake in shares of Abbott Laboratories by 23.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock worth $9,325,000 after buying an additional 15,692 shares during the last quarter. Brighton Jones LLC increased 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 worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,120,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Abbott Laboratories by 3.5% during the 4th quarter. Van ECK Associates Corp now owns 28,683 shares of the healthcare product maker's stock valued at $3,244,000 after acquiring an additional 957 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 0.1%

Shares of ABT stock traded up $0.07 during trading hours on Thursday, hitting $132.35. 4,950,337 shares of the company were exchanged, compared to its average volume of 6,109,757. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a 50 day simple moving average of $132.07 and a two-hundred day simple moving average of $126.76. The firm has a market cap of $230.27 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Equities analysts anticipate 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 Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.78%. Abbott Laboratories's payout ratio is currently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. Royal Bank Of Canada increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Raymond James Financial raised their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday. They set a "market perform" rating and a $143.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.61.

About Abbott Laboratories

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.