State Board of Administration of Florida Retirement System Buys 12,698 Shares of Abbott Laboratories $ABT

State Board of Administration of Florida Retirement System increased its stake in Abbott Laboratories (NYSE:ABT) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,685,536 shares of the healthcare product maker’s stock after purchasing an additional 12,698 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Abbott Laboratories were worth $229,250,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Avanza Fonder AB boosted its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after acquiring an additional 655 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after purchasing an additional 73,780 shares during the last quarter. Madrona Financial Services LLC boosted its holdings in shares of Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after purchasing an additional 152 shares in the last quarter. Atria Investments Inc increased its stake in shares of Abbott Laboratories by 8.3% in the 2nd quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after purchasing an additional 14,185 shares during the last quarter. Finally, State of Michigan Retirement System raised its holdings in shares of Abbott Laboratories by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.5%

NYSE:ABT opened at $128.70 on Thursday. Abbott Laboratories has a one year low of $110.86 and a one 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 company has a market cap of $223.80 billion, a PE ratio of 16.13, a P/E/G ratio of 2.36 and a beta of 0.68. The firm’s 50 day simple moving average is $129.67 and its 200 day simple moving average is $131.08.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the firm earned $1.21 earnings per share. 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. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s payout ratio is 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. BTIG Research restated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Thursday, November 20th. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Evercore ISI cut their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.