Arcataur Capital Management LLC Purchases 137 Shares of Abbott Laboratories (NYSE:ABT)

Arcataur Capital Management LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,434 shares of the healthcare product maker’s stock after buying an additional 137 shares during the quarter. Arcataur Capital Management LLC’s holdings in Abbott Laboratories were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $39,000. Revolve Wealth Partners LLC raised its holdings in shares of Abbott Laboratories by 6.3% in the 1st quarter. Revolve Wealth Partners LLC now owns 1,956 shares of the healthcare product maker’s stock worth $222,000 after purchasing an additional 116 shares during the period. Wealthcare Advisory Partners LLC raised its holdings 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 worth $1,717,000 after purchasing an additional 2,870 shares during the period. Thrive Wealth Management LLC raised its holdings 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 worth $396,000 after purchasing an additional 291 shares during the period. Finally, Investment Partners LTD. raised its holdings in shares of Abbott Laboratories by 3.6% in the 1st quarter. Investment Partners LTD. now owns 8,181 shares of the healthcare product maker’s stock worth $930,000 after purchasing an additional 281 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

NYSE:ABT traded down $0.14 on Thursday, reaching $116.87. 311,915 shares of the stock traded hands, compared to its average volume of 5,706,374. The company’s fifty day simple moving average is $114.46 and its 200 day simple moving average is $108.62. The company has a market capitalization of $203.31 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

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

Abbott Laboratories Announces Dividend

The business 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 $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Piper Sandler boosted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Company 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.