Curi RMB Capital LLC Decreases Stake in Abbott Laboratories (NYSE:ABT)

Curi RMB Capital LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.4% during the third quarter, HoldingsChannel.com reports. The firm owned 88,964 shares of the healthcare product maker’s stock after selling 9,229 shares during the period. Curi RMB Capital LLC’s holdings in Abbott Laboratories were worth $10,143,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in Abbott Laboratories by 61.5% in the 3rd quarter. KBC Group NV now owns 1,497,747 shares of the healthcare product maker’s stock valued at $170,757,000 after purchasing an additional 570,224 shares during the period. Peak Asset Management LLC lifted its position in Abbott Laboratories by 9.0% in the 3rd quarter. Peak Asset Management LLC now owns 14,777 shares of the healthcare product maker’s stock worth $1,685,000 after buying an additional 1,220 shares during the last quarter. Freemont Management S.A. boosted its stake in Abbott Laboratories by 46.6% in the third quarter. Freemont Management S.A. now owns 10,000 shares of the healthcare product maker’s stock worth $1,140,000 after buying an additional 3,180 shares in the last quarter. Cable Hill Partners LLC grew its position in Abbott Laboratories by 7.8% during the third quarter. Cable Hill Partners LLC now owns 9,698 shares of the healthcare product maker’s stock valued at $1,106,000 after acquiring an additional 705 shares during the last quarter. Finally, Schrum Private Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 41.8% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,610 shares of the healthcare product maker’s stock valued at $1,894,000 after purchasing an additional 4,895 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $115.05 on Friday. Abbott Laboratories has a 52 week low of $96.92 and a 52 week high of $121.64. 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 market cap of $199.55 billion, a P/E ratio of 34.97, a P/E/G ratio of 2.74 and a beta of 0.72. The business’s 50 day moving average price is $115.45 and its 200-day moving average price is $109.39.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Mizuho boosted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction 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 of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

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.