DORCHESTER WEALTH MANAGEMENT Co Sells 200 Shares of Abbott Laboratories (NYSE:ABT)

DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,908 shares of the healthcare product maker’s stock after selling 200 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Abbott Laboratories were worth $446,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $39,000. Revolve Wealth Partners LLC boosted its holdings in Abbott Laboratories by 6.3% during the first quarter. Revolve Wealth Partners LLC now owns 1,956 shares of the healthcare product maker’s stock worth $222,000 after buying an additional 116 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Abbott Laboratories by 23.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,110 shares of the healthcare product maker’s stock valued at $1,717,000 after acquiring an additional 2,870 shares during the last quarter. Thrive Wealth Management LLC raised its position in shares of Abbott Laboratories by 9.1% in the 1st quarter. Thrive Wealth Management LLC now owns 3,487 shares of the healthcare product maker’s stock valued at $396,000 after acquiring an additional 291 shares during the period. Finally, Investment Partners LTD. boosted its stake in Abbott Laboratories by 3.6% during the 1st quarter. Investment Partners LTD. now owns 8,181 shares of the healthcare product maker’s stock worth $930,000 after acquiring an additional 281 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

Abbott Laboratories stock traded down $0.26 during mid-day trading on Thursday, reaching $116.75. The company’s stock had a trading volume of 376,043 shares, compared to its average volume of 5,706,685. The business’s 50 day simple moving average is $114.46 and its 200 day simple moving average is $108.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company has a market capitalization of $203.10 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its 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 business had revenue of $10.64 billion for 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 13.65%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. As a group, research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Raymond James reiterated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Piper Sandler lifted 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. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories 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.