Abbott Laboratories $ABT Shares Sold by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management LLC reduced its stake in Abbott Laboratories by 4.6% in Q2, selling 2,378 shares for a total of approximately $6.6 million in holdings.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, to be paid on November 17th, with an annualized yield of 1.7%.
• The company reported a quarterly EPS of $1.26, matching analysts' estimates, and projected FY 2025 earnings guidance of 5.100-5.200 EPS.

Clear Harbor Asset Management LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 4.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,793 shares of the healthcare product maker's stock after selling 2,378 shares during the period. Clear Harbor Asset Management LLC's holdings in Abbott Laboratories were worth $6,636,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the first quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ABT shares. Raymond James Financial dropped their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Mizuho increased their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

Abbott Laboratories Stock Up 0.6%

Shares of ABT stock traded up $0.78 on Monday, hitting $136.82. The stock had a trading volume of 4,837,007 shares, compared to its average volume of 5,199,671. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $130.56 and a 200 day moving average price of $131.11. The company has a market cap of $238.13 billion, a PE ratio of 17.15, a P/E/G ratio of 2.58 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm's quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. Abbott Laboratories's payout ratio is presently 29.57%.

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.