Horan Capital Advisors LLC. Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Horan Capital Advisors LLC. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,852 shares of the healthcare product maker’s stock after selling 366 shares during the period. Abbott Laboratories comprises about 1.3% of Horan Capital Advisors LLC.’s holdings, making the stock its 25th largest holding. Horan Capital Advisors LLC.’s holdings in Abbott Laboratories were worth $3,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Rise Advisors LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $37,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after buying an additional 236 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Abbott Laboratories in the third quarter worth about $40,000. Cornerstone Planning Group LLC increased its position in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at $46,000. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABT. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Abbott Laboratories Trading Down 0.0 %

Abbott Laboratories stock opened at $105.90 on Friday. The business has a 50-day simple moving average of $112.52 and a two-hundred day simple moving average of $108.51. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The company has a market cap of $183.76 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.55 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 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.