State of Alaska Department of Revenue Reduces Holdings in Abbott Laboratories $ABT

State of Alaska Department of Revenue reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 229,973 shares of the healthcare product maker’s stock after selling 9,031 shares during the quarter. State of Alaska Department of Revenue’s holdings in Abbott Laboratories were worth $30,802,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Carr Financial Group Corp raised its stake in Abbott Laboratories by 2.0% in the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock valued at $520,000 after purchasing an additional 76 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in Abbott Laboratories by 10.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after buying an additional 77 shares during the last quarter. Gemmer Asset Management LLC grew its holdings in Abbott Laboratories by 2.9% in the 3rd quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock valued at $368,000 after buying an additional 78 shares during the period. FF Advisors LLC increased its stake in shares of Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares during the last quarter. Finally, Charles Schwab Trust Co raised its stake in Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $126.21 on Friday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The firm has a market capitalization of $219.46 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.10 and a beta of 0.72. The stock’s fifty day moving average is $126.08 and its 200-day moving average is $129.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

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, hitting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. Abbott Laboratories’s payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Barclays lifted their price objective on Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Mizuho lifted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, BTIG Research reiterated a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.47.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.