Clear Harbor Asset Management LLC Sells 529 Shares of Abbott Laboratories (NYSE:ABT)

Clear Harbor Asset Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 51,852 shares of the healthcare product maker’s stock after selling 529 shares during the period. Clear Harbor Asset Management LLC’s holdings in Abbott Laboratories were worth $5,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Groupama Asset Managment lifted its position in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the second quarter worth about $32,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $113.45 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The stock’s 50 day moving average is $114.93 and its 200 day moving average is $112.87. The firm has a market cap of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.08%. Abbott Laboratories’s payout ratio is presently 66.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein upped their price objective 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. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $131.57.

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.