Clearview Wealth Advisors LLC Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Clearview Wealth Advisors LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the 3rd quarter, Holdings Channel reports. The fund owned 2,736 shares of the healthcare product maker’s stock after selling 109 shares during the quarter. Clearview Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares in the last quarter. Capital International Investors grew its stake in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the period. Ameriprise Financial Inc. increased its holdings in Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock worth $1,103,997,000 after acquiring an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 worth $771,940,000 after acquiring an additional 1,596,835 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in 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 purchasing an additional 452,308 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Piper Sandler began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday. Finally, Jefferies Financial Group restated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.54.

Abbott Laboratories Stock Down 1.0 %

Shares of ABT opened at $116.04 on Wednesday. The company’s 50-day simple moving average is $113.44 and its 200-day simple moving average is $108.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 1 year low of $90.87 and a 1 year high of $121.64. The stock has a market capitalization of $201.87 billion, a PE ratio of 36.15, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.