State of New Jersey Common Pension Fund D Has $77.88 Million Stock Position in Abbott Laboratories $ABT

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Abbott Laboratories by 8.2%, owning 587,107 shares valued at approximately $77.88 million after the sale.
• Several institutional investors increased their holdings in Abbott Laboratories, with American Century Companies Inc. raising its stake by 92.9% to over 1.25 million shares.
• Analyst ratings for Abbott Laboratories are generally positive, with four analysts rating it a hold and seventeen assigning a buy rating, indicating a consensus average target price of $144.47.

State of New Jersey Common Pension Fund D cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 587,107 shares of the healthcare product maker's stock after selling 52,459 shares during the period. State of New Jersey Common Pension Fund D's holdings in Abbott Laboratories were worth $77,880,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABT. Cim LLC increased its stake in Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares during the period. Capital Square LLC grew its holdings in shares of Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after acquiring an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC raised its holdings in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after buying an additional 78 shares during the period. Mayflower Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after acquiring an additional 78 shares in the last quarter. Finally, Opes Wealth Management LLC boosted its position in shares of Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after buying an additional 80 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.9%

NYSE ABT traded up $1.2110 on Wednesday, reaching $132.4610. The company had a trading volume of 1,128,385 shares, compared to its average volume of 6,829,695. The stock has a market cap of $230.54 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.47 and a beta of 0.70. The stock's 50 day moving average is $131.28 and its 200-day moving average is $131.24. 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 52 week low of $110.68 and a 52 week high of $141.23.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. The business's revenue for the quarter 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. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a $0.59 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Mizuho lifted 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. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Two equities 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

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.