Kentucky Retirement Systems Sells 7,266 Shares of Abbott Laboratories $ABT

Kentucky Retirement Systems cut its stake in Abbott Laboratories (NYSE:ABT) by 6.2% during the second quarter, HoldingsChannel reports. The firm owned 110,873 shares of the healthcare product maker’s stock after selling 7,266 shares during the period. Kentucky Retirement Systems’ holdings in Abbott Laboratories were worth $15,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $2,425,000. Advisory Services Network LLC boosted its holdings in shares of Abbott Laboratories by 11.8% in the second quarter. Advisory Services Network LLC now owns 63,990 shares of the healthcare product maker’s stock valued at $8,075,000 after purchasing an additional 6,768 shares during the period. State of Wyoming grew its stake in Abbott Laboratories by 30.1% in the second quarter. State of Wyoming now owns 6,493 shares of the healthcare product maker’s stock worth $883,000 after purchasing an additional 1,501 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $32,000. Finally, Old North State Trust LLC raised its position in Abbott Laboratories by 6.2% during the 2nd quarter. Old North State Trust LLC now owns 3,045 shares of the healthcare product maker’s stock valued at $414,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.8%

Shares of Abbott Laboratories stock opened at $125.47 on Friday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm’s 50 day moving average price is $127.45 and its 200-day moving average price is $130.48. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a market cap of $218.17 billion, a P/E ratio of 15.72, a PEG ratio of 2.29 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho increased their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Daiwa Capital Markets increased their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research report on Thursday, November 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, 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 note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus 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.