Atlas Capital Advisors LLC Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Atlas Capital Advisors LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 90.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,451 shares of the healthcare product maker’s stock after selling 13,870 shares during the period. Atlas Capital Advisors LLC’s holdings in Abbott Laboratories were worth $165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Transcendent Capital Group LLC purchased 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 during the 4th quarter valued at $29,000. True Wealth Design LLC grew its stake in shares of Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the period. Finally, Rise Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $104.87 on Thursday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $182.43 billion, a PE ratio of 32.67, a P/E/G ratio of 2.54 and a beta of 0.74. The firm has a 50-day simple moving average of $104.89 and a 200 day simple moving average of $110.17.

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. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Insider Activity

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’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 sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’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 transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. 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.