Brown Miller Wealth Management LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Brown Miller Wealth Management LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,653 shares of the healthcare product maker’s stock after acquiring an additional 574 shares during the quarter. Abbott Laboratories comprises 1.9% of Brown Miller Wealth Management LLC’s holdings, making the stock its 7th largest position. Brown Miller Wealth Management LLC’s holdings in Abbott Laboratories were worth $4,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at about $28,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the first quarter worth approximately $30,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter worth approximately $31,000. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Piper Sandler initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Barclays increased their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.15.

Abbott Laboratories Trading Up 0.4 %

Shares of NYSE:ABT traded up $0.50 during mid-day trading on Friday, reaching $116.12. 3,471,291 shares of the company’s stock were exchanged, compared to its average volume of 5,728,511. The firm has a market capitalization of $202.01 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.74 and a beta of 0.72. The business’s fifty day moving average price is $113.13 and its 200-day moving average price is $108.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.