New York State Teachers Retirement System Has $207.88 Million Position in Abbott Laboratories $ABT

New York State Teachers Retirement System lowered its stake in Abbott Laboratories (NYSE:ABT) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528,387 shares of the healthcare product maker’s stock after selling 11,041 shares during the period. New York State Teachers Retirement System’s holdings in Abbott Laboratories were worth $207,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Prairie Sky Financial Group LLC increased its holdings in shares of Abbott Laboratories by 6.2% in the second quarter. Prairie Sky Financial Group LLC now owns 102,036 shares of the healthcare product maker’s stock valued at $13,878,000 after purchasing an additional 5,931 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Abbott Laboratories by 14.1% in the second quarter. Rosenberg Matthew Hamilton now owns 2,010 shares of the healthcare product maker’s stock valued at $273,000 after purchasing an additional 248 shares in the last quarter. IFG Advisors LLC increased its holdings in shares of Abbott Laboratories by 44.2% in the second quarter. IFG Advisors LLC now owns 2,445 shares of the healthcare product maker’s stock valued at $333,000 after purchasing an additional 750 shares in the last quarter. Generali Asset Management SPA SGR boosted its stake in Abbott Laboratories by 2.7% in the second quarter. Generali Asset Management SPA SGR now owns 82,431 shares of the healthcare product maker’s stock valued at $11,211,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Abbott Laboratories by 36.3% in the second quarter. Ritholtz Wealth Management now owns 65,878 shares of the healthcare product maker’s stock valued at $8,960,000 after acquiring an additional 17,546 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $129.35 on Thursday. The firm has a market capitalization of $225.13 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a fifty day moving average of $132.59 and a 200-day moving average of $131.60. 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 (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts forecast 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 Monday, November 17th. Investors of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’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 sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABT shares. BTIG Research reduced their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note 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 note on Tuesday, July 15th. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective on the stock. Raymond James Financial reduced their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, July 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.17.

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.