Arcataur Capital Management LLC Has $734,000 Stake in Abbott Laboratories (NYSE:ABT)

Arcataur Capital Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,434 shares of the healthcare product maker’s stock after acquiring an additional 137 shares during the period. Arcataur Capital Management LLC’s holdings in Abbott Laboratories were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the second quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the first quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC bought a new stake in Abbott Laboratories in the second quarter valued at approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABT shares. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, UBS Group upped their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Price Performance

Shares of ABT traded down $0.14 during trading hours on Thursday, reaching $116.87. The stock had a trading volume of 311,915 shares, compared to its average volume of 5,706,374. The stock has a market capitalization of $203.31 billion, a PE ratio of 36.45, a PEG ratio of 2.74 and a beta of 0.72. 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’s 50-day moving average is $114.46 and its two-hundred day moving average is $108.62.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business 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 revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated 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 directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.