Clarity Financial LLC Has $303,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Clarity Financial LLC cut its position in Abbott Laboratories (NYSE:ABT) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,657 shares of the healthcare product maker’s stock after selling 154 shares during the period. Clarity Financial LLC’s holdings in Abbott Laboratories were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. BDF Gestion bought a new position in Abbott Laboratories in the second quarter valued at $7,651,000. Dundas Partners LLP raised its stake 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 worth $34,313,000 after purchasing an additional 6,897 shares in the last quarter. MONECO Advisors LLC raised its position in shares of Abbott Laboratories by 110.1% in the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after buying an additional 16,325 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at approximately $5,634,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Abbott Laboratories by 19.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after buying an additional 31,720 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.8 %

NYSE:ABT opened at $117.65 on Tuesday. The firm’s fifty day moving average is $115.03 and its 200-day moving average is $108.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52 week low of $92.43 and a 52 week high of $121.64. The firm has a market cap of $204.06 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.72.

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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the firm posted $1.14 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given 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 1.87%. Abbott Laboratories’s payout ratio is presently 66.87%.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction 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 owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABT. Citigroup lifted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, 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 report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

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.