State of New Jersey Common Pension Fund D Lowers Stock Position in Abbott Laboratories $ABT

State of New Jersey Common Pension Fund D cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586,953 shares of the healthcare product maker’s stock after selling 154 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Abbott Laboratories were worth $79,831,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at $1,658,180,000. Goldman Sachs Group Inc. grew its position in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP grew its position in Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. TD Asset Management Inc grew its position in Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after buying an additional 1,721,523 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.3%

Shares of ABT stock opened at $126.78 on Friday. The firm’s 50-day simple moving average is $132.09 and its 200-day simple moving average is $131.55. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market cap of $220.65 billion, a P/E ratio of 15.89, a PEG ratio of 2.40 and a beta of 0.69.

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

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ABT shares. Morgan Stanley raised 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. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

About Abbott Laboratories

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.