Abbott Laboratories $ABT Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 18.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 601,052 shares of the healthcare product maker’s stock after selling 135,499 shares during the period. Teacher Retirement System of Texas’ holdings in Abbott Laboratories were worth $81,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. IMG Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $30,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.3%

NYSE ABT opened at $126.78 on Monday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. The firm’s fifty day simple moving average is $132.09 and its 200-day simple moving average is $131.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the business posted $1.21 earnings per share. Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABT. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets increased their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Abbott Laboratories Company 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.