Hantz Financial Services Inc. Reduces Stock Holdings in Abbott Laboratories $ABT

Hantz Financial Services Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 269,035 shares of the healthcare product maker’s stock after selling 14,608 shares during the period. Hantz Financial Services Inc.’s holdings in Abbott Laboratories were worth $36,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the topic of a number of analyst reports. Daiwa Capital Markets lifted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Finally, Sanford C. Bernstein boosted their price target on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Down 1.7%

Shares of ABT opened at $124.42 on Thursday. The stock has a market capitalization of $216.55 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The business’s 50 day simple moving average is $131.78 and its 200-day simple moving average is $131.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

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.