RB Capital Management LLC Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

RB Capital Management LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 41,183 shares of the healthcare product maker’s stock after selling 3,083 shares during the period. Abbott Laboratories comprises 1.1% of RB Capital Management LLC’s investment 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 reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC grew its stake in shares of Abbott Laboratories by 5.2% in the second 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 bought a new position in shares of Abbott Laboratories during the second quarter valued at $254,000. NorthCrest Asset Manangement LLC lifted its holdings in shares of Abbott Laboratories by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 63,819 shares of the healthcare product maker’s stock valued at $6,631,000 after purchasing an additional 944 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of Abbott Laboratories by 5.7% during the second quarter. Great Valley Advisor Group Inc. now owns 24,802 shares of the healthcare product maker’s stock valued at $2,577,000 after purchasing an additional 1,328 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its holdings in shares of Abbott Laboratories by 5.2% during the second quarter. TRUE Private Wealth Advisors now owns 4,562 shares of the healthcare product maker’s stock valued at $474,000 after purchasing an additional 226 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

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 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 approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $114.90 on Tuesday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market capitalization of $199.29 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.72 and a beta of 0.73. The stock has a 50 day moving average price of $116.17 and a 200 day moving average price of $110.93.

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, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period last year, the company earned $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Mizuho increased their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada raised their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

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.