Regal Investment Advisors LLC Sells 117 Shares of Abbott Laboratories (NYSE:ABT)

Regal Investment Advisors LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,466 shares of the healthcare product maker’s stock after selling 117 shares during the quarter. Regal Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter worth about $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $30,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories in the 2nd quarter worth approximately $32,000. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $113.58 on Wednesday. The company has a market capitalization of $197.59 billion, a P/E ratio of 35.38, a PEG ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a 50 day moving average price of $111.97 and a two-hundred day moving average price of $108.15.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analyst Ratings Changes

Several research firms have recently weighed in on ABT. Barclays upped their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Jefferies Financial Group restated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research report on Thursday, September 26th. Piper Sandler assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.33.

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.