Atria Wealth Solutions Inc. Sells 3,290 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Atria Wealth Solutions Inc. trimmed its position in Abbott Laboratories (NYSE:ABT – Free Report) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,211 shares of the healthcare product maker’s stock after selling 3,290 shares during the period. Atria Wealth Solutions Inc.’s holdings in Abbott Laboratories were worth $7,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ABT. Norges Bank acquired a new stake in Abbott Laboratories in the 4th quarter valued at $2,115,836,000. Vanguard Group Inc. grew its holdings 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 acquiring an additional 8,834,840 shares in the last quarter. Capital Research Global Investors increased its position in shares of Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors raised its holdings in Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after acquiring an additional 5,882,780 shares in the last quarter. Finally, Boston Partners boosted its position in Abbott Laboratories by 12,577.8% during the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after purchasing an additional 3,742,912 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $0.61 during trading hours on Wednesday, hitting $111.38. The company had a trading volume of 4,081,448 shares, compared to its average volume of 6,004,157. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a market cap of $193.76 billion, a PE ratio of 34.70, a PEG ratio of 2.74 and a beta of 0.72. The firm has a 50-day moving average of $105.80 and a 200 day moving average of $108.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABT. Barclays upped their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Finally, Evercore ISI reduced their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Get Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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