New York State Teachers Retirement System Sells 73,492 Shares of Abbott Laboratories (NYSE:ABT)

New York State Teachers Retirement System decreased its holdings in Abbott Laboratories (NYSE:ABT) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,562,029 shares of the healthcare product maker’s stock after selling 73,492 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Abbott Laboratories worth $176,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ABT. Groupama Asset Managment raised its position in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $34,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.0 %

Shares of Abbott Laboratories stock opened at $131.83 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50. The business has a 50-day moving average of $118.34 and a two-hundred day moving average of $115.71. The company has a market capitalization of $228.66 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. As a group, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABT shares. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Barclays reissued an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.