Abbott Laboratories (NYSE:ABT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,816 shares of the healthcare product maker's stock after selling 15,387 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Abbott Laboratories were worth $41,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Cim LLC raised its stake in Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after purchasing an additional 73 shares during the last quarter. Capital Square LLC raised its stake in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after purchasing an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC increased its stake in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after acquiring an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC increased its stake 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 worth $2,298,000 after acquiring an additional 78 shares during the last quarter. Finally, Cyrus J. Lawrence LLC increased its stake in shares of Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

ABT traded up $0.53 during trading on Tuesday, reaching $124.95. 4,596,115 shares of the stock were exchanged, compared to its average volume of 6,236,003. The business's 50 day moving average price is $132.98 and its two-hundred day moving average price is $129.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The company has a market capitalization of $217.38 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 2.35 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.92 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Royal Bank Of Canada raised their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Barclays upped their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.