Abbott Laboratories $ABT Position Lessened by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Abbott Laboratories (NYSE:ABT) by 21.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,612,836 shares of the healthcare product maker’s stock after selling 1,224,614 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of Abbott Laboratories worth $627,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Avanza Fonder AB increased its holdings in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares during the last quarter. Atria Investments Inc boosted its position in Abbott Laboratories by 8.3% during the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock worth $25,062,000 after purchasing an additional 14,185 shares during the period. Janney Montgomery Scott LLC grew its holdings in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after purchasing an additional 73,780 shares during the last quarter. Madrona Financial Services LLC raised its position in shares of Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after purchasing an additional 152 shares during the period. Finally, Financial Management Professionals Inc. lifted its stake in shares of Abbott Laboratories by 715.7% in the second quarter. Financial Management Professionals Inc. now owns 6,142 shares of the healthcare product maker’s stock worth $835,000 after buying an additional 5,389 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABT shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Raymond James Financial raised their price target on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research note on Thursday, November 20th. Finally, Wells Fargo & Company lifted their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $125.01 on Friday. The firm has a market capitalization of $217.38 billion, a PE ratio of 15.67, a PEG ratio of 2.28 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The business’s 50 day moving average is $128.53 and its 200-day moving average is $130.80.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were paid a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s payout ratio is presently 29.57%.

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.