Clarity Financial LLC Has $375,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Clarity Financial LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,298 shares of the healthcare product maker’s stock after acquiring an additional 610 shares during the quarter. Clarity Financial LLC’s holdings in Abbott Laboratories were worth $375,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

Shares of Abbott Laboratories stock opened at $104.78 on Thursday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The business’s 50 day simple moving average is $104.89 and its 200 day simple moving average is $110.17. The firm has a market cap of $182.28 billion, a PE ratio of 32.67, a P/E/G ratio of 2.54 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 2.10%. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Evercore ISI increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Insider Activity

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.