Abbott Laboratories (NYSE:ABT) Shares Sold by Hurlow Wealth Management Group Inc.

Hurlow Wealth Management Group Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,722 shares of the healthcare product maker’s stock after selling 293 shares during the period. Hurlow Wealth Management Group Inc.’s holdings in Abbott Laboratories were worth $424,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the first quarter valued at $30,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the second quarter valued at $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.6 %

ABT traded up $0.71 during trading on Monday, hitting $113.35. The company’s stock had a trading volume of 6,911,432 shares, compared to its average volume of 5,763,618. The firm’s 50 day moving average price is $112.37 and its 200-day moving average price is $108.16. 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 stock has a market cap of $197.19 billion, a PE ratio of 35.31, a PEG ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Activity

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 transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABT. Piper Sandler began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Evercore ISI lifted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.33.

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.