Arizona State Retirement System Has $67.52 Million Holdings in Abbott Laboratories (NYSE:ABT)

Arizona State Retirement System increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,015 shares of the healthcare product maker's stock after buying an additional 4,496 shares during the quarter. Arizona State Retirement System's holdings in Abbott Laboratories were worth $67,521,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Abbott Laboratories by 10.1% during the 4th 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. Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the period. Proficio Capital Partners LLC grew its holdings in Abbott Laboratories by 99.5% during the fourth quarter. Proficio Capital Partners LLC now owns 8,896 shares of the healthcare product maker's stock worth $1,006,000 after acquiring an additional 4,437 shares during the period. Essential Planning LLC. bought a new stake in Abbott Laboratories in the fourth quarter worth about $511,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Abbott Laboratories by 66.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 153,021 shares of the healthcare product maker's stock valued at $17,308,000 after purchasing an additional 61,156 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $0.62 on Tuesday, hitting $131.41. 5,084,239 shares of the company were exchanged, compared to its average volume of 6,151,757. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The company's 50 day moving average price is $133.51 and its two-hundred day moving average price is $129.29. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The firm has a market capitalization of $228.63 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. Raymond James Financial lifted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $143.78.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director owned 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 SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Abbott Laboratories 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.