State Board of Administration of Florida Retirement System lessened its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,355,118 shares of the healthcare product maker’s stock after selling 21,495 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Abbott Laboratories were worth $143,639,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rainier Group Investment Advisory LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $114,000. FNY Investment Advisers LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $118,000. Private Ocean LLC grew its holdings in shares of Abbott Laboratories by 9,868.2% in the 1st quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,171 shares during the last quarter. Silvant Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $160,000. Finally, Gables Capital Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $170,000. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ABT opened at $64.64 on Tuesday. The stock has a market cap of $113.54 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.81 and a beta of 1.53. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58. Abbott Laboratories has a 12-month low of $48.58 and a 12-month high of $65.90.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. sell-side analysts forecast that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Friday, July 13th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 12th. This represents a $1.12 annualized dividend and a yield of 1.73%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

In other Abbott Laboratories news, EVP Brian J. Blaser sold 15,100 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now directly owns 151,718 shares in the company, valued at approximately $9,703,883.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Pederson sold 1,050 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total transaction of $66,601.50. Following the transaction, the insider now owns 79,467 shares in the company, valued at $5,040,591.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,024 shares of company stock worth $1,088,840. 0.74% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th. Sanford C. Bernstein began coverage on shares of Abbott Laboratories in a report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $69.88.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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