New Mexico Educational Retirement Board Has $10.76 Million Holdings in Abbott Laboratories (NYSE:ABT)

New Mexico Educational Retirement Board reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,102 shares of the healthcare product maker's stock after selling 1,900 shares during the period. New Mexico Educational Retirement Board's holdings in Abbott Laboratories were worth $10,758,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $25,000. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $28,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the first quarter worth about $28,000. Wormser Freres Gestion acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 0.0%

Shares of ABT traded up $0.05 during trading hours on Wednesday, reaching $133.41. The stock had a trading volume of 4,613,653 shares, compared to its average volume of 6,162,455. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a 50-day moving average of $133.43 and a 200 day moving average of $128.69. The company has a market cap of $232.11 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.54 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories's dividend payout ratio is 30.61%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Six investment 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 company's stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.11.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate 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.