Brighton Jones LLC Acquires 4,755 Shares of Abbott Laboratories (NYSE:ABT)

Brighton Jones LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,719 shares of the healthcare product maker’s stock after buying an additional 4,755 shares during the quarter. Brighton Jones LLC’s holdings in Abbott Laboratories were worth $5,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Bath Savings Trust Co raised its holdings in Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after buying an additional 5,881 shares during the last quarter. Simplify Asset Management Inc. raised its holdings in shares of Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after acquiring an additional 5,664 shares during the last quarter. Pensionfund Sabic bought a new position in Abbott Laboratories in the 4th quarter valued at about $2,828,000. Dundas Partners LLP boosted its stake in 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. Finally, Sequoia Financial Advisors LLC increased its holdings in Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after purchasing an additional 31,720 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday. Raymond James reiterated a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler boosted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.50.

Abbott Laboratories Trading Up 4.6 %

NYSE:ABT opened at $123.17 on Friday. The stock’s fifty day moving average price is $114.91 and its two-hundred day moving average price is $113.08. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $123.23. The company has a market cap of $213.62 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.50 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. As a group, analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.92%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.