Atria Investments Inc Increases Stake in Abbott Laboratories (NYSE:ABT)

Atria Investments Inc increased its position in Abbott Laboratories (NYSE:ABT) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 163,218 shares of the healthcare product maker’s stock after acquiring an additional 9,322 shares during the quarter. Atria Investments Inc’s holdings in Abbott Laboratories were worth $18,608,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Essex Savings Bank increased its holdings in Abbott Laboratories by 14.6% in the 3rd quarter. Essex Savings Bank now owns 5,731 shares of the healthcare product maker’s stock worth $653,000 after acquiring an additional 731 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in Abbott Laboratories by 7.7% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,541 shares of the healthcare product maker’s stock valued at $404,000 after buying an additional 254 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Abbott Laboratories by 2.6% during the 3rd quarter. Lindbrook Capital LLC now owns 10,301 shares of the healthcare product maker’s stock valued at $1,174,000 after buying an additional 264 shares in the last quarter. Klingman & Associates LLC grew its holdings in Abbott Laboratories by 47.9% during the 3rd quarter. Klingman & Associates LLC now owns 11,391 shares of the healthcare product maker’s stock valued at $1,299,000 after buying an additional 3,689 shares in the last quarter. Finally, Thomas Story & Son LLC grew its holdings in Abbott Laboratories by 50.1% during the 3rd quarter. Thomas Story & Son LLC now owns 66,544 shares of the healthcare product maker’s stock valued at $7,587,000 after buying an additional 22,219 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $116.59 on Friday. The business has a 50 day moving average of $115.32 and a 200 day moving average of $109.19. The company has a market capitalization of $202.22 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.75 and a beta of 0.72. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.89%. Abbott Laboratories’s payout ratio is currently 66.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.