Hummer Financial Advisory Services Inc Has $905,000 Stake in Abbott Laboratories (NYSE:ABT)

Hummer Financial Advisory Services Inc decreased its position in Abbott Laboratories (NYSE:ABT) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,940 shares of the healthcare product maker’s stock after selling 300 shares during the period. Abbott Laboratories makes up 0.7% of Hummer Financial Advisory Services Inc’s holdings, making the stock its 29th biggest holding. Hummer Financial Advisory Services Inc’s holdings in Abbott Laboratories were worth $905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BDF Gestion acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $7,651,000. Dundas Partners LLP grew its position in Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares during the period. Duality Advisers LP acquired a new stake in Abbott Laboratories in the 1st quarter valued at $5,634,000. Oak Harvest Investment Services grew its position in Abbott Laboratories by 32.7% in the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after purchasing an additional 18,131 shares during the period. Finally, Empowered Funds LLC grew its position in Abbott Laboratories by 40.3% in the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after purchasing an additional 14,215 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded up $2.37 during midday trading on Wednesday, hitting $118.42. The stock had a trading volume of 2,795,527 shares, compared to its average volume of 5,707,662. The company has a market cap of $206.01 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The business has a fifty day moving average of $113.44 and a 200 day moving average of $108.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 1 year low of $91.25 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

ABT has been the subject of several research reports. Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 price objective on shares of Abbott Laboratories in a report on Thursday, September 26th. Evercore ISI lifted their price objective 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. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Piper Sandler initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories 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.