State of New Jersey Common Pension Fund D Has $66.43 Million Stock Position in Abbott Laboratories (NYSE:ABT)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 35.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 639,305 shares of the healthcare product maker’s stock after selling 350,242 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Abbott Laboratories were worth $66,430,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ABT. Norges Bank acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $2,115,836,000. Vanguard Group Inc. grew its holdings in Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital Research Global Investors boosted its holdings in shares of Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares during the period. Capital International Investors boosted its holdings in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the period. Finally, Swedbank AB bought a new stake in shares of Abbott Laboratories in the first quarter worth $341,777,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ABT shares. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI decreased their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup increased their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Abbott Laboratories Stock Down 0.5 %

Shares of NYSE ABT opened at $116.55 on Thursday. The firm has a market capitalization of $202.75 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.83 and a beta of 0.72. The business has a 50-day moving average of $108.70 and a 200-day moving average of $108.69. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $0.55 per share. The ex-dividend date was Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

About Abbott Laboratories

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.