Hantz Financial Services Inc. Has $33.26 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Hantz Financial Services Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 291,753 shares of the healthcare product maker’s stock after selling 7,097 shares during the quarter. Hantz Financial Services Inc.’s holdings in Abbott Laboratories were worth $33,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the third quarter worth $32,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Evercore ISI raised their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Price Performance

NYSE:ABT 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. The firm has a market cap of $206.31 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 2.78 and a beta of 0.72. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The firm’s 50-day simple moving average is $115.76 and its 200 day simple moving average is $110.25.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share 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 company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.