Brighton Jones LLC Acquires 31,794 Shares of Abbott Laboratories (NYSE:ABT)

Brighton Jones LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 209.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,964 shares of the healthcare product maker’s stock after purchasing an additional 31,794 shares during the quarter. Brighton Jones LLC’s holdings in Abbott Laboratories were worth $5,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. BDF Gestion bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $7,651,000. Dundas Partners LLP increased its position in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $5,634,000. Oak Harvest Investment Services grew its position in Abbott Laboratories by 32.7% during the first quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after buying an additional 18,131 shares during the period. Finally, Empowered Funds LLC raised its position in Abbott Laboratories by 40.3% in the first quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after acquiring an additional 14,215 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Price Performance

NYSE:ABT opened at $116.99 on Thursday. The firm has a market capitalization of $203.52 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a fifty day moving average of $114.46 and a 200 day moving average of $108.62. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. On average, research analysts expect that Abbott Laboratories will post 4.66 EPS 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. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $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 is available at this hyperlink. 1.10% of the stock is owned by company insiders.

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.