Atria Wealth Solutions Inc. Sells 32,282 Shares of Abbott Laboratories $ABT

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Abbott Laboratories by 48.1%, selling 32,282 shares, and now holds 34,812 shares worth approximately $4.73 million.
• Abbott Laboratories' recent financial performance includes earnings of $1.26 per share, meeting analyst estimates, and revenue growth of 7.4% year-over-year.
• Several analysts have increased their price targets for Abbott Laboratories, with the consensus now at $146.17, reflecting a generally positive outlook on the company's performance.

Atria Wealth Solutions Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 48.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,812 shares of the healthcare product maker's stock after selling 32,282 shares during the period. Atria Wealth Solutions Inc.'s holdings in Abbott Laboratories were worth $4,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the first quarter worth $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the first quarter worth $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the first quarter worth $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories in the first quarter worth $33,000. Institutional investors own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ABT. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective for the company. Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Mizuho lifted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $146.17.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $131.52 on Tuesday. The stock's 50-day simple moving average is $132.57 and its 200-day simple moving average is $131.60. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a market capitalization of $228.90 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.51 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's payout ratio is presently 29.57%.

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.

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