New York State Common Retirement Fund Sells 18,885 Shares of Abbott Laboratories $ABT

by · The Markets Daily

New York State Common Retirement Fund lessened its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,150,543 shares of the healthcare product maker’s stock after selling 18,885 shares during the quarter. New York State Common Retirement Fund owned 0.12% of Abbott Laboratories worth $292,495,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $3,026,180,000. Nuveen LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $1,658,180,000. Laurel Wealth Advisors LLC grew its position in Abbott Laboratories by 13,347.0% in the second quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock valued at $823,804,000 after acquiring an additional 6,011,891 shares during the period. Goldman Sachs Group Inc. raised its stake in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.3%

ABT stock opened at $128.90 on Friday. 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 twelve month low of $110.86 and a twelve month high of $141.23. The company has a market cap of $224.14 billion, a P/E ratio of 16.15, a PEG ratio of 2.36 and a beta of 0.68. The business has a fifty day moving average of $129.40 and a 200-day moving average of $131.05.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ABT shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Daiwa Capital Markets raised their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Evercore ISI reduced their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. BTIG Research reaffirmed a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a report on Thursday, November 20th. Finally, Raymond James Financial boosted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.00.

View Our Latest Report on ABT

About Abbott Laboratories

(Free Report)

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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