Raleigh Capital Management Inc. Sells 145 Shares of Abbott Laboratories (NYSE:ABT)

Raleigh Capital Management Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,260 shares of the healthcare product maker’s stock after selling 145 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Abbott Laboratories were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. BDF Gestion bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $7,651,000. Dundas Partners LLP increased its position in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Duality Advisers LP bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $5,634,000. Oak Harvest Investment Services increased its position in shares of Abbott Laboratories by 32.7% during the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after purchasing an additional 18,131 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after purchasing an additional 14,215 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABT. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Trading Down 0.7 %

Shares of NYSE ABT opened at $116.12 on Wednesday. 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 stock has a market capitalization of $202.01 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The business has a fifty day moving average price of $114.31 and a 200 day moving average price of $108.56.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Equities research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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