Abbott Laboratories (NYSE:ABT) is Brendel Financial Advisors LLC’s 9th Largest Position

Brendel Financial Advisors LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 404.6% during the third quarter, HoldingsChannel.com reports. The fund owned 35,129 shares of the healthcare product maker’s stock after buying an additional 28,167 shares during the quarter. Abbott Laboratories makes up approximately 2.3% of Brendel Financial Advisors LLC’s investment portfolio, making the stock its 9th largest position. Brendel Financial Advisors LLC’s holdings in Abbott Laboratories were worth $4,005,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Quotient Wealth Partners LLC grew its position in shares of Abbott Laboratories by 9.0% during the 3rd quarter. Quotient Wealth Partners LLC now owns 5,111 shares of the healthcare product maker’s stock valued at $583,000 after purchasing an additional 423 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in Abbott Laboratories by 3.7% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 4,247 shares of the healthcare product maker’s stock valued at $484,000 after buying an additional 150 shares during the period. Cypress Wealth Services LLC increased its stake in Abbott Laboratories by 5.9% in the 3rd quarter. Cypress Wealth Services LLC now owns 2,904 shares of the healthcare product maker’s stock worth $331,000 after acquiring an additional 161 shares during the last quarter. Morton Capital Management LLC CA raised its holdings in shares of Abbott Laboratories by 13.6% in the 3rd quarter. Morton Capital Management LLC CA now owns 2,245 shares of the healthcare product maker’s stock valued at $256,000 after acquiring an additional 269 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC boosted its position in shares of Abbott Laboratories by 3.9% during the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 26,625 shares of the healthcare product maker’s stock valued at $3,036,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABT shares. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday. They issued an “outperform” rating and a $130.00 target price for the company. Piper Sandler began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $125.15.

Abbott Laboratories Trading Down 0.1 %

Shares of NYSE:ABT traded down $0.16 during midday trading on Thursday, hitting $115.79. 1,368,381 shares of the stock traded hands, compared to its average volume of 5,725,985. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $201.43 billion, a PE ratio of 36.12, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The business’s 50 day moving average is $112.93 and its two-hundred day moving average is $108.26.

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, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

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.