Clear Harbor Asset Management LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Clear Harbor Asset Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm 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 SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after buying an additional 8,834,840 shares during the period. Capital International Investors lifted its stake in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Abbott Laboratories by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Abbott Laboratories by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after buying an additional 1,596,835 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Abbott Laboratories by 7.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,352,134 shares of the healthcare product maker’s stock valued at $721,984,000 after buying an additional 452,308 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $114.22 on Friday. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $198.70 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The stock has a 50 day moving average of $114.63 and a 200-day moving average of $108.67.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. 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 report on Thursday, October 17th. Finally, Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.67.

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.