Fermata Advisors LLC Has $284,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Fermata Advisors LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,492 shares of the healthcare product maker’s stock after buying an additional 362 shares during the quarter. Fermata Advisors LLC’s holdings in Abbott Laboratories were worth $284,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ABT. Public Employees Retirement System of Ohio increased its stake in Abbott Laboratories by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock valued at $98,490,000 after buying an additional 8,224 shares during the period. Clarity Asset Management Inc. bought a new stake in Abbott Laboratories in the fourth quarter worth approximately $42,000. CMG Global Holdings LLC bought a new stake in Abbott Laboratories in the fourth quarter worth approximately $216,000. Sanibel Captiva Trust Company Inc. bought a new stake in Abbott Laboratories in the fourth quarter worth approximately $16,764,000. Finally, Secured Retirement Advisors LLC bought a new stake in Abbott Laboratories in the fourth quarter worth approximately $1,703,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ABT. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 price objective on shares of Abbott Laboratories in a report on Thursday, September 26th. Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Piper Sandler started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.15.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 0.4 %

ABT opened at $116.13 on Friday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a market capitalization of $202.02 billion, a P/E ratio of 36.18, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm’s fifty day moving average price is $113.13 and its two-hundred day moving average price is $108.35.

Abbott Laboratories (NYSE:ABT) last posted its earnings results 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Abbott Laboratories Company 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.