Horan Capital Advisors LLC. Sells 294 Shares of Abbott Laboratories (NYSE:ABT)

Horan Capital Advisors LLC. cut its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,187 shares of the healthcare product maker’s stock after selling 294 shares during the quarter. Abbott Laboratories makes up approximately 1.2% of Horan Capital Advisors LLC.’s holdings, making the stock its 28th largest holding. Horan Capital Advisors LLC.’s holdings in Abbott Laboratories were worth $3,670,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the third quarter worth $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at $32,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter valued at $32,000. Finally, 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 worth $33,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABT shares. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Mizuho upped their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’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 value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Up 1.3 %

Abbott Laboratories stock opened at $117.36 on Tuesday. Abbott Laboratories has a one year low of $98.95 and a one year high of $121.64. The business’s fifty day moving average is $115.55 and its 200 day moving average is $109.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $203.56 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.73 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, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. On average, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

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.