Brighton Jones LLC Increases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Brighton Jones LLC grew its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 57,040 shares of the healthcare product maker's stock after purchasing an additional 5,321 shares during the period. Brighton Jones LLC's holdings in Abbott Laboratories were worth $7,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $26,000. NewSquare Capital LLC lifted its stake in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. Institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.89 during mid-day trading on Monday, hitting $134.73. 1,602,297 shares of the stock traded hands, compared to its average volume of 6,090,116. The business's 50-day moving average price is $131.50 and its 200 day moving average price is $126.47. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $234.40 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.75%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Raymond James upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Bank of America upped their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Barclays boosted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.61.

About Abbott Laboratories

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.