Retirement Systems of Alabama lowered its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 378,380 shares of the healthcare product maker's stock after selling 5,365 shares during the quarter. Retirement Systems of Alabama's holdings in Abbott Laboratories were worth $43,139,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $264,876,000. State Street Corp increased its holdings in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC raised its position in Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker's stock worth $191,515,000 after purchasing an additional 1,667,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker's stock worth $771,940,000 after buying an additional 1,596,835 shares in the last quarter. Institutional investors own 75.18% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on ABT shares. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an "overweight" rating and a $131.00 price objective on the stock. Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price target on the stock. Finally, UBS Group upped their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $130.71.
View Our Latest Analysis on ABT
Abbott Laboratories Stock Down 0.4 %
Shares of ABT stock traded down $0.48 during trading hours on Friday, hitting $113.38. 4,550,900 shares of the company were exchanged, compared to its average volume of 5,618,930. The company has a market capitalization of $196.65 billion, a PE ratio of 34.46, a PEG ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The business has a 50 day moving average of $116.27 and a two-hundred day moving average of $111.12. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.
Abbott Laboratories Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. Abbott Laboratories's dividend payout ratio (DPR) is 66.87%.
Abbott Laboratories Company Profile
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Free Report)
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.
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