Regal Investment Advisors LLC Has $998,000 Stake in Abbott Laboratories (NYSE:ABT)

Regal Investment Advisors LLC increased its holdings in Abbott Laboratories (NYSE:ABT – Get Rating) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,437 shares of the healthcare product maker’s stock after buying an additional 1,306 shares during the period. Regal Investment Advisors LLC’s holdings in Abbott Laboratories were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bourgeon Capital Management LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Delos Wealth Advisors LLC increased its stake in Abbott Laboratories by 100.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. Holloway Wealth Management LLC increased its stake in Abbott Laboratories by 175.0% in the first quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 175 shares during the last quarter. Retirement Group LLC grew its stake in shares of Abbott Laboratories by 1,125.0% during the fourth quarter. Retirement Group LLC now owns 245 shares of the healthcare product maker’s stock worth $34,000 after buying an additional 225 shares during the last quarter. Finally, Lumature Wealth Partners LLC grew its stake in shares of Abbott Laboratories by 65.4% during the fourth quarter. Lumature Wealth Partners LLC now owns 301 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 119 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABT. Citigroup reduced their price objective on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Royal Bank of Canada reduced their price objective on shares of Abbott Laboratories from $143.00 to $132.00 in a research note on Thursday, July 21st. UBS Group reduced their price objective on shares of Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Stifel Nicolaus dropped their target price on shares of Abbott Laboratories from $136.00 to $126.00 in a report on Monday, July 18th. Finally, Raymond James dropped their target price on shares of Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.46.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT opened at $109.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.01 and a quick ratio of 1.40. The firm has a 50-day moving average of $109.35 and a 200-day moving average of $115.75. The company has a market cap of $191.32 billion, a PE ratio of 22.81, a PEG ratio of 4.06 and a beta of 0.71. Abbott Laboratories has a one year low of $101.24 and a one year high of $142.60.

Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The business had revenue of $11.26 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the firm posted $1.17 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 5 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio is currently 39.25%.

Insider Activity

In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Fernando Mateus sold 2,457 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total transaction of $267,935.85. Following the transaction, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at $1,581,552.15. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Abbott Laboratories Profile

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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 Established Pharmaceutical Products segment 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.