Carlton Hofferkamp & Jenks Wealth Management LLC Has $208,000 Position in Abbott Laboratories (NYSE:ABT)

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,770 shares of the healthcare product maker’s stock after selling 149 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Abbott Laboratories were worth $208,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Empower Advisory Group LLC raised its position in Abbott Laboratories by 0.3% in the 3rd quarter. Empower Advisory Group LLC now owns 907,849 shares of the healthcare product maker’s stock valued at $103,504,000 after buying an additional 2,662 shares during the last quarter. Dillon & Associates Inc. raised its position in Abbott Laboratories by 2.1% in the 3rd quarter. Dillon & Associates Inc. now owns 210,347 shares of the healthcare product maker’s stock valued at $23,980,000 after buying an additional 4,364 shares during the last quarter. Aptus Capital Advisors LLC raised its position in Abbott Laboratories by 21.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 129,531 shares of the healthcare product maker’s stock valued at $14,768,000 after buying an additional 23,201 shares during the last quarter. Hemenway Trust Co LLC raised its position in Abbott Laboratories by 1.2% in the 3rd quarter. Hemenway Trust Co LLC now owns 349,606 shares of the healthcare product maker’s stock valued at $39,859,000 after buying an additional 4,289 shares during the last quarter. Finally, Savvy Advisors Inc. raised its position in Abbott Laboratories by 40.7% in the 3rd quarter. Savvy Advisors Inc. now owns 8,606 shares of the healthcare product maker’s stock valued at $981,000 after buying an additional 2,488 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Barclays boosted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Price Performance

Shares of ABT opened at $116.45 on Wednesday. Abbott Laboratories has a 12-month low of $94.50 and a 12-month high of $121.64. The business has a 50-day simple moving average of $115.43 and a two-hundred day simple moving average of $109.35. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $201.98 billion, a PE ratio of 35.40, a PEG ratio of 2.75 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.

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.