State of Alaska Department of Revenue Trims Stake in Abbott Laboratories $ABT

State of Alaska Department of Revenue reduced its position in Abbott Laboratories (NYSE:ABT) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,973 shares of the healthcare product maker’s stock after selling 9,031 shares during the period. State of Alaska Department of Revenue’s holdings in Abbott Laboratories were worth $30,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Carr Financial Group Corp increased its stake in Abbott Laboratories by 2.0% during the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after buying an additional 76 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Abbott Laboratories by 10.7% during the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after buying an additional 77 shares during the last quarter. Gemmer Asset Management LLC grew its holdings in shares of Abbott Laboratories by 2.9% in the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 78 shares during the period. FF Advisors LLC increased its holdings in shares of Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after buying an additional 79 shares during the last quarter. Finally, Charles Schwab Trust Co raised its stake in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT stock opened at $126.21 on Friday. The firm has a 50 day moving average of $126.08 and a 200-day moving average of $129.47. The company has a market cap of $219.46 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.10 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 29th. Benchmark assumed coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. BTIG Research reaffirmed a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Two equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.47.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.