Brown Lisle Cummings Inc. Acquires 525 Shares of Abbott Laboratories (NYSE:ABT)

Brown Lisle Cummings Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 14.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,079 shares of the healthcare product maker’s stock after purchasing an additional 525 shares during the period. Brown Lisle Cummings Inc.’s holdings in Abbott Laboratories were worth $465,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $119.39 on Monday. 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 company has a market cap of $207.69 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a 50-day moving average price of $113.97 and a 200-day moving average price of $108.48. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s 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 approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ABT shares. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday. Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories 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.