Abbott Laboratories $ABT Stock: State of Alaska Department of Revenue Decreases Holdings

State of Alaska Department of Revenue reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,524 shares of the healthcare product maker’s stock after selling 6,754 shares during the period. State of Alaska Department of Revenue’s holdings in Abbott Laboratories were worth $20,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. J. Stern & Co. LLP boosted its position in shares of Abbott Laboratories by 12,439.6% during the 4th quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock worth $4,926,279,000 after acquiring an additional 39,005,451 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $1,603,607,000. Legal & General Group Plc bought a new position in shares of Abbott Laboratories in the 2nd quarter valued at $1,082,524,000. Flossbach Von Storch SE bought a new position in shares of Abbott Laboratories in the 2nd quarter valued at $902,938,000. Finally, Jupiter Topco LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth $732,788,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of Abbott Laboratories in a research note on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 13th. Robert W. Baird assumed coverage on shares of Abbott Laboratories in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 target price on the stock. Finally, UBS Group cut their target price on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.88.

Abbott Laboratories Trading Up 1.6%

ABT stock traded up $1.66 during midday trading on Thursday, hitting $104.63. The stock had a trading volume of 5,149,368 shares, compared to its average volume of 11,256,545. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The firm has a market cap of $181.05 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 1.90 and a beta of 0.59. The business has a fifty day moving average price of $106.03 and a two-hundred day moving average price of $98.26. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The company had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. During the same quarter in the previous year, the business posted $1.26 EPS. Abbott Laboratories’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Abbott Laboratories will post 5.52 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 16th. Investors of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 81.55%.

Abbott Laboratories Company Profile

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.