Atria Wealth Solutions Inc. Acquires 2,259 Shares of Abbott Laboratories (NYSE:ABT)

Atria Wealth Solutions Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 77,402 shares of the healthcare product maker's stock after purchasing an additional 2,259 shares during the period. Atria Wealth Solutions Inc.'s holdings in Abbott Laboratories were worth $8,755,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABT. Groupama Asset Managment boosted its holdings in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock worth $26,000 after buying an additional 41,557 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC increased its stake in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $34,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Trading Up 1.4 %

Abbott Laboratories stock traded up $1.87 during trading hours on Friday, reaching $135.04. The company had a trading volume of 7,117,852 shares, compared to its average volume of 6,596,108. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a 50-day moving average price of $120.32 and a 200 day moving average price of $116.65. The firm has a market cap of $234.22 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 2.46 and a beta of 0.75. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $135.41.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 EPS. Equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.75%. Abbott Laboratories's dividend payout ratio is presently 30.85%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Argus raised Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. StockNews.com lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Finally, UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average target price of $133.06.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by company 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.