Abbott Laboratories (NYSE:ABT) Stock Holdings Lifted by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 76.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,254 shares of the healthcare product maker’s stock after acquiring an additional 4,445 shares during the period. Atomi Financial Group Inc.’s holdings in Abbott Laboratories were worth $1,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $30,000. Finally, True Wealth Design LLC lifted its holdings in shares of Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Citigroup reduced their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Barclays reduced their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Evercore ISI reduced their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.18.

Abbott Laboratories Stock Down 1.0 %

Abbott Laboratories stock traded down $1.07 during mid-day trading on Monday, hitting $103.15. 1,832,277 shares of the company’s stock were exchanged, compared to its average volume of 5,620,328. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The stock has a market cap of $179.44 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.51 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The stock has a 50 day moving average of $104.05 and a two-hundred day moving average of $109.73.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.