Abbott Laboratories (NYSE:ABT) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its position in Abbott Laboratories (NYSE:ABT) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,368,896 shares of the healthcare product maker’s stock after selling 6,423 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.08% of Abbott Laboratories worth $142,242,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in Abbott Laboratories by 5.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 262,366 shares of the healthcare product maker’s stock valued at $27,263,000 after acquiring an additional 13,844 shares in the last quarter. Clifford Group LLC grew its position in Abbott Laboratories by 1.8% in the second quarter. Clifford Group LLC now owns 5,756 shares of the healthcare product maker’s stock valued at $598,000 after acquiring an additional 103 shares in the last quarter. GM Advisory Group LLC boosted its stake in shares of Abbott Laboratories by 2.4% during the 2nd quarter. GM Advisory Group LLC now owns 4,979 shares of the healthcare product maker’s stock valued at $517,000 after buying an additional 116 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of Abbott Laboratories by 2.0% during the 2nd quarter. Ieq Capital LLC now owns 108,990 shares of the healthcare product maker’s stock valued at $11,325,000 after buying an additional 2,154 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of Abbott Laboratories by 10.0% during the 2nd quarter. Intech Investment Management LLC now owns 35,323 shares of the healthcare product maker’s stock valued at $3,670,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday. They set an “overweight” rating and a $131.00 price objective on the stock. Piper Sandler started coverage on Abbott Laboratories in a research note on Thursday. They set an “overweight” rating and a $131.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $114.15 on Friday. The firm has a market capitalization of $198.58 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The stock’s fifty day moving average is $110.32 and its 200-day moving average is $108.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for 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%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories 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.