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

DORCHESTER WEALTH MANAGEMENT Co lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth about $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.26 on Thursday, reaching $116.75. The stock had a trading volume of 376,043 shares, compared to its average volume of 5,706,685. The company has a market capitalization of $203.10 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The stock has a fifty day moving average price of $114.46 and a 200-day moving average price of $108.62. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis 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 at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABT. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Mizuho boosted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.