Strs Ohio Takes $75.15 Million Position in Abbott Laboratories $ABT

Key Points

• Strs Ohio has acquired a new position in Abbott Laboratories, purchasing 566,505 shares valued at approximately $75.15 million.
• Analysts have varying outlooks on Abbott's stock, with ratings ranging from "Buy" to "Hold", and an average target price set at $144.47.
• Abbott Laboratories recently reported a quarterly earnings per share (EPS) of $1.26, matching analyst expectations, and announced a quarterly dividend of $0.59 per share.

Strs Ohio acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 566,505 shares of the healthcare product maker's stock, valued at approximately $75,147,000.

A number of other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in 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. Bank Pictet & Cie Europe AG boosted its holdings in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Abbott Laboratories by 6.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 168,417 shares of the healthcare product maker's stock valued at $19,050,000 after acquiring an additional 10,933 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $457,000. Finally, Northwest Quadrant Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 8.9% during the fourth quarter. Northwest Quadrant Wealth Management LLC now owns 2,422 shares of the healthcare product maker's stock valued at $274,000 after acquiring an additional 198 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ABT shares. BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Wells Fargo & Company reduced their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Morgan Stanley raised 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 report on Tuesday, July 15th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Price Performance

NYSE ABT opened at $129.39 on Thursday. The company has a 50 day simple moving average of $130.43 and a 200-day simple moving average of $131.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market capitalization of $225.20 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

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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