Brown Miller Wealth Management LLC Has $4.86 Million Holdings in Abbott Laboratories (NYSE:ABT)

Brown Miller Wealth Management LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 1.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 42,653 shares of the healthcare product maker’s stock after acquiring an additional 574 shares during the quarter. Abbott Laboratories makes up 1.9% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 7th biggest position. Brown Miller Wealth Management LLC’s holdings in Abbott Laboratories were worth $4,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the second quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth about $30,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

ABT traded up $0.50 on Friday, hitting $116.12. The company’s stock had a trading volume of 3,471,291 shares, compared to its average volume of 5,728,511. The company’s 50 day simple moving average is $113.13 and its 200-day simple moving average is $108.35. The firm has a market cap of $202.01 billion, a P/E ratio of 36.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. Analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analyst Ratings Changes

Several research firms have recently commented on ABT. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.15.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This 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. Corporate 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.