Hantz Financial Services Inc. Sells 7,097 Shares of Abbott Laboratories (NYSE:ABT)

Hantz Financial Services Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 291,753 shares of the healthcare product maker’s stock after selling 7,097 shares during the period. Hantz Financial Services Inc.’s holdings in Abbott Laboratories were worth $33,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC raised 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 buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter worth approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.8 %

Shares of Abbott Laboratories stock opened at $118.95 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The stock has a 50 day moving average price of $115.76 and a two-hundred day moving average price of $110.25. The stock has a market capitalization of $206.31 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Barclays lifted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.