Abbott Laboratories (NYSE:ABT) Shares Acquired by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 52,381 shares of the healthcare product maker’s stock after buying an additional 1,605 shares during the period. Clear Harbor Asset Management LLC’s holdings in Abbott Laboratories were worth $5,972,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Smith Salley Wealth Management boosted its stake in Abbott Laboratories by 2.6% during the 3rd quarter. Smith Salley Wealth Management now owns 170,650 shares of the healthcare product maker’s stock valued at $19,456,000 after purchasing an additional 4,253 shares during the period. Mattern Capital Management LLC boosted its stake in Abbott Laboratories by 0.3% during the 3rd quarter. Mattern Capital Management LLC now owns 70,608 shares of the healthcare product maker’s stock valued at $8,050,000 after purchasing an additional 179 shares during the period. GHP Investment Advisors Inc. boosted its stake in Abbott Laboratories by 0.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 27,866 shares of the healthcare product maker’s stock valued at $3,177,000 after purchasing an additional 201 shares during the period. Consolidated Portfolio Review Corp acquired a new position in Abbott Laboratories during the 3rd quarter valued at about $281,000. Finally, Pathway Financial Advisers LLC boosted its stake in Abbott Laboratories by 99.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,765 shares of the healthcare product maker’s stock valued at $315,000 after purchasing an additional 1,382 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the business’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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James reissued a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upped their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Stock Down 2.0 %

NYSE ABT opened at $114.22 on Friday. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company’s 50 day simple moving average is $114.63 and its 200 day simple moving average is $108.67. 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 company has a market capitalization of $198.70 billion, a P/E ratio of 35.58, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. 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 1.93%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.