Atria Wealth Solutions Inc. Buys 3,670 Shares of Abbott Laboratories (NYSE:ABT)

Atria Wealth Solutions Inc. lifted its stake in Abbott Laboratories (NYSE:ABT) by 5.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 71,314 shares of the healthcare product maker’s stock after acquiring an additional 3,670 shares during the period. Atria Wealth Solutions Inc.’s holdings in Abbott Laboratories were worth $7,849,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Zevenbergen Capital Investments LLC lifted its stake in Abbott Laboratories by 0.6% during the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after purchasing an additional 130 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 5.2% during the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after buying an additional 2,317 shares in the last quarter. Rockland Trust Co. increased its holdings in shares of Abbott Laboratories by 1.5% during the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after buying an additional 1,343 shares in the last quarter. VisionPoint Advisory Group LLC increased its holdings in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after buying an additional 215 shares in the last quarter. Finally, Gradient Investments LLC increased its holdings in shares of Abbott Laboratories by 4.7% during the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after buying an additional 11,508 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays lowered their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada reduced their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Finally, Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $121.50.

Abbott Laboratories Stock Up 0.0 %

Shares of NYSE ABT traded up $0.01 during mid-day trading on Friday, reaching $106.87. 181,153 shares of the company’s stock traded hands, compared to its average volume of 5,617,918. The stock has a market cap of $185.44 billion, a P/E ratio of 33.22, a PEG ratio of 2.57 and a beta of 0.74. The business has a 50-day simple moving average of $113.77 and a 200 day simple moving average of $107.96. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. On average, analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,435 shares of company stock worth $6,451,298. 1.10% of the stock is owned by insiders.

Abbott Laboratories Company 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.