Curi RMB Capital LLC Sells 9,229 Shares of Abbott Laboratories (NYSE:ABT)

Curi RMB Capital LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the second quarter worth approximately $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Valued Wealth Advisors LLC increased its holdings in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Abbott Laboratories in the second quarter worth about $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Up 0.8 %

Abbott Laboratories stock traded up $0.87 during midday trading on Friday, reaching $115.90. The stock had a trading volume of 6,873,094 shares, compared to its average volume of 5,701,520. The firm's fifty day simple moving average is $115.49 and its two-hundred day simple moving average is $109.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a twelve month low of $97.64 and a twelve month high of $121.64. The firm has a market cap of $201.02 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.72 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted 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 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 13.99%. Abbott Laboratories's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.90%. Abbott Laboratories's payout ratio is 66.87%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ABT shares. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. UBS Group increased their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Raymond James reiterated 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 upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently 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.