Orleans Capital Management Corp LA Buys 100 Shares of Abbott Laboratories (NYSE:ABT)

Orleans Capital Management Corp LA lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,055 shares of the healthcare product maker’s stock after acquiring an additional 100 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of Orleans Capital Management Corp LA’s holdings, making the stock its 26th largest position. Orleans Capital Management Corp LA’s holdings in Abbott Laboratories were worth $2,500,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABT. Vanguard Group Inc. grew its holdings in Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after purchasing an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in Abbott Laboratories in the 4th quarter valued at $16,764,000. Garde Capital Inc. raised its holdings in Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock worth $205,000 after acquiring an additional 262 shares during the period. Sectoral Asset Management Inc. lifted its position in Abbott Laboratories by 31.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock worth $7,595,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Abbott Laboratories by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock valued at $98,490,000 after acquiring an additional 8,224 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Jefferies Financial Group restated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research note on Thursday, September 26th. Evercore ISI dropped their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

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 dated 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 of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $114.01 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a 50-day moving average of $111.78 and a 200-day moving average of $108.16. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market capitalization of $198.34 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the company earned $1.08 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal 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 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 1.93%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

About Abbott Laboratories

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.