Brady Family Wealth LLC Has $7.08 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Brady Family Wealth LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 62,132 shares of the healthcare product maker’s stock after selling 204 shares during the quarter. Abbott Laboratories comprises 2.1% of Brady Family Wealth LLC’s holdings, making the stock its 11th biggest position. Brady Family Wealth LLC’s holdings in Abbott Laboratories were worth $7,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the second quarter worth $28,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the first quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the third quarter worth $31,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the second quarter worth $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $116.04 on Wednesday. The stock has a market capitalization of $201.87 billion, a P/E ratio of 36.15, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $90.87 and a 1-year high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $113.44 and a two-hundred day moving average price of $108.34.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. Equities analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. 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 research note on Tuesday, October 1st. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Raymond James reiterated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.54.

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.