Clark Asset Management LLC Acquires 1,774 Shares of Abbott Laboratories $ABT

Clark Asset Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 78.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,045 shares of the healthcare product maker’s stock after purchasing an additional 1,774 shares during the quarter. Clark Asset Management LLC’s holdings in Abbott Laboratories were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. grew its stake in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at $30,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at $33,000. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ABT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Barclays upped their price target on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Benchmark started coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Performance

Shares of ABT opened at $127.16 on Tuesday. The stock’s 50-day simple moving average is $132.03 and its 200 day simple moving average is $131.64. The stock has a market capitalization of $221.31 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

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

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $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 available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.