Kowal Investment Group LLC Sells 547 Shares of Abbott Laboratories (NYSE:ABT)

Kowal Investment Group LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,296 shares of the healthcare product maker’s stock after selling 547 shares during the quarter. Kowal Investment Group LLC’s holdings in Abbott Laboratories were worth $1,174,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its position in shares of Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after buying an additional 1,120 shares during the last quarter. Accretive Wealth Partners LLC boosted its position in Abbott Laboratories by 1.2% during the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock worth $1,466,000 after purchasing an additional 152 shares during the period. Aveo Capital Partners LLC grew its holdings in Abbott Laboratories by 13.3% during the fourth quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock valued at $388,000 after purchasing an additional 413 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of Abbott Laboratories by 3.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after purchasing an additional 3,767 shares during the period. Finally, TrinityPoint Wealth LLC lifted its stake in shares of Abbott Laboratories by 1.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock worth $2,339,000 after buying an additional 376 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. 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 report on Tuesday, July 2nd. Piper Sandler started coverage on Abbott Laboratories in a research note on Thursday. They issued an “overweight” rating and a $131.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday. They set an “overweight” rating and a $131.00 price target for the company. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.33.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

ABT opened at $113.70 on Friday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a market capitalization of $197.80 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm’s fifty day moving average price is $110.50 and its two-hundred day moving average price is $108.53.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend 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.