Abbott Laboratories (NYSE:ABT) Holdings Lowered by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Abbott Laboratories by 13.3%, owning 67,094 shares worth $8.90 million after selling 10,308 shares in Q1.
• Abbott Laboratories reported $1.26 earnings per share in its latest quarter, matching analysts' expectations, with revenue increasing 7.4% year-over-year.
• The company announced a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, set to be paid on August 15th.

Atria Wealth Solutions Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,094 shares of the healthcare product maker's stock after selling 10,308 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Abbott Laboratories were worth $8,900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Brighton Jones LLC raised its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG raised its position in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the period. Shelton Capital Management lifted its stake in shares of Abbott Laboratories by 0.7% during the fourth quarter. Shelton Capital Management now owns 23,842 shares of the healthcare product maker's stock worth $2,697,000 after purchasing an additional 162 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Abbott Laboratories by 38.1% in the fourth quarter. Bank of Nova Scotia now owns 351,598 shares of the healthcare product maker's stock worth $39,771,000 after buying an additional 96,995 shares during the period. Finally, German American Bancorp Inc. grew its stake in shares of Abbott Laboratories by 1.2% in the fourth quarter. German American Bancorp Inc. now owns 85,426 shares of the healthcare product maker's stock valued at $9,663,000 after buying an additional 1,006 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of analyst reports. Mizuho upped their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Royal Bank Of Canada raised their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Stock Performance

ABT stock traded up $1.16 during mid-day trading on Thursday, reaching $132.09. The company had a trading volume of 4,690,281 shares, compared to its average volume of 7,877,068. Abbott Laboratories has a one year low of $107.11 and a one year high of $141.23. The stock has a market capitalization of $229.90 billion, a P/E ratio of 16.55, a P/E/G ratio of 2.48 and a beta of 0.70. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock's 50-day simple moving average is $131.68 and its two-hundred day simple moving average is $130.85.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the firm posted $1.14 EPS. Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is 29.57%.

About Abbott Laboratories

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.