Oregon Public Employees Retirement Fund Purchases 48,548 Shares of Abbott Laboratories $ABT

Oregon Public Employees Retirement Fund lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 32.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,938 shares of the healthcare product maker’s stock after buying an additional 48,548 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Abbott Laboratories were worth $26,646,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Charles Schwab Trust Co lifted its holdings in shares of Abbott Laboratories by 109.8% in the 3rd quarter. Charles Schwab Trust Co now owns 29,412 shares of the healthcare product maker’s stock worth $3,939,000 after buying an additional 15,394 shares during the period. Avanza Fonder AB raised its holdings in shares of Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Abbott Laboratories by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 858,834 shares of the healthcare product maker’s stock worth $115,032,000 after acquiring an additional 19,966 shares during the period. Seaview Investment Managers LLC bought a new position in Abbott Laboratories during the 2nd quarter worth about $11,068,000. Finally, Guggenheim Capital LLC increased its position in Abbott Laboratories by 13.5% during the 2nd quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after purchasing an additional 11,794 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.7%

Shares of ABT stock opened at $126.21 on Friday. The stock’s fifty day moving average price is $126.08 and its 200 day moving average price is $129.47. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a market cap of $219.46 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.10 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business 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 company earned $1.21 earnings per share. The company’s quarterly revenue 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 expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analyst Weigh In

ABT has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 29th. The Goldman Sachs Group increased their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Benchmark initiated coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued 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, Raymond James Financial boosted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two 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.com, the stock presently has an average 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.