Clune & Associates LTD. Sells 123 Shares of Abbott Laboratories $ABT

Clune & Associates LTD. decreased its position in Abbott Laboratories (NYSE:ABT) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,794 shares of the healthcare product maker’s stock after selling 123 shares during the quarter. Clune & Associates LTD.’s holdings in Abbott Laboratories were worth $2,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after buying an additional 4,755 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Abbott Laboratories by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock valued at $5,103,000 after purchasing an additional 5,590 shares during the last quarter. Advisor Resource Council purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $334,000. Ridgecrest Wealth Partners LLC boosted its stake in shares of Abbott Laboratories by 4.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 6,743 shares of the healthcare product maker’s stock worth $894,000 after acquiring an additional 300 shares during the last quarter. Finally, Live Oak Private Wealth LLC lifted its stake in Abbott Laboratories by 0.3% in the 1st quarter. Live Oak Private Wealth LLC now owns 80,174 shares of the healthcare product maker’s stock worth $10,635,000 after purchasing an additional 250 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 0.7%

NYSE:ABT opened at $129.49 on Tuesday. The business’s fifty day moving average price is $132.34 and its 200 day moving average price is $131.57. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market capitalization of $225.38 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.44 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced 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 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Sanford C. Bernstein increased their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Raymond James Financial increased their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.61.

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.