RB Capital Management LLC Has $4.70 Million Stake in Abbott Laboratories (NYSE:ABT)

RB Capital Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,183 shares of the healthcare product maker’s stock after selling 3,083 shares during the quarter. Abbott Laboratories accounts for approximately 1.1% of RB Capital Management LLC’s portfolio, making the stock its 23rd largest position. RB Capital Management LLC’s holdings in Abbott Laboratories were worth $4,695,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABT. Lantz Financial LLC raised its holdings in shares of Abbott Laboratories by 5.2% in the 2nd quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker’s stock worth $596,000 after acquiring an additional 281 shares during the last quarter. Maia Wealth LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $254,000. NorthCrest Asset Manangement LLC raised its holdings in shares of Abbott Laboratories by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 63,819 shares of the healthcare product maker’s stock worth $6,631,000 after acquiring an additional 944 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Abbott Laboratories by 5.7% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 24,802 shares of the healthcare product maker’s stock worth $2,577,000 after acquiring an additional 1,328 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its holdings in shares of Abbott Laboratories by 5.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 4,562 shares of the healthcare product maker’s stock worth $474,000 after acquiring an additional 226 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 0.6 %

ABT stock opened at $114.90 on Tuesday. The firm has a market capitalization of $199.29 billion, a PE ratio of 34.92, a PEG ratio of 2.72 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $116.17 and a two-hundred day simple moving average of $110.93. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.14 EPS. On average, equities analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. Abbott Laboratories’s payout ratio is 66.87%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABT shares. Morgan Stanley upped their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.07.

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.