Public Employees Retirement System of Ohio Acquires New Holdings in Abbott Laboratories (NYSE:ABT)

Public Employees Retirement System of Ohio purchased a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 746,335 shares of the healthcare product maker's stock, valued at approximately $84,418,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Three Seasons Wealth LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $1,428,000. Welch Group LLC lifted its holdings in Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock worth $7,744,000 after buying an additional 3,479 shares during the last quarter. Voleon Capital Management LP acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after purchasing an additional 57,499 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its holdings in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after acquiring an additional 2,774 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 0.1%

NYSE ABT traded down $0.15 on Wednesday, hitting $132.79. 1,345,014 shares of the company were exchanged, compared to its average volume of 6,121,577. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market capitalization of $231.03 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company's 50 day moving average price is $130.07 and its 200-day moving average price is $124.90.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Morgan Stanley boosted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, April 17th. Finally, Bank of America upped their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

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.