Atomi Financial Group Inc. Has $1.17 Million Stock Position in Abbott Laboratories (NYSE:ABT)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Raleigh Capital Management Inc. boosted its stake in Abbott Laboratories by 8.1% during the third quarter. Raleigh Capital Management Inc. now owns 3,775 shares of the healthcare product maker’s stock worth $366,000 after acquiring an additional 284 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Abbott Laboratories by 1.8% in the fourth quarter. Capital Investment Advisors LLC now owns 18,910 shares of the healthcare product maker’s stock valued at $2,081,000 after buying an additional 328 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Abbott Laboratories by 12.3% in the fourth quarter. Diversified Trust Co now owns 46,827 shares of the healthcare product maker’s stock valued at $5,154,000 after buying an additional 5,126 shares in the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Abbott Laboratories by 3.4% in the fourth quarter. Pure Financial Advisors LLC now owns 17,592 shares of the healthcare product maker’s stock valued at $1,936,000 after buying an additional 582 shares in the last quarter. Finally, Fragasso Group Inc. lifted its stake in shares of Abbott Laboratories by 3.1% in the fourth quarter. Fragasso Group Inc. now owns 5,625 shares of the healthcare product maker’s stock valued at $619,000 after buying an additional 171 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT traded down $1.07 during trading hours on Monday, hitting $103.15. The company’s stock had a trading volume of 1,832,277 shares, compared to its average volume of 5,620,328. The company has a market cap of $179.44 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The business has a 50 day simple moving average of $104.05 and a two-hundred day simple moving average of $109.73. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on 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 directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was 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 $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ABT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Raymond James reissued a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI dropped their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Citigroup dropped their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $120.18.

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.