SYM FINANCIAL Corp Purchases 268 Shares of Abbott Laboratories (NYSE:ABT)

SYM FINANCIAL Corp grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,010 shares of the healthcare product maker’s stock after acquiring an additional 268 shares during the quarter. SYM FINANCIAL Corp’s holdings in Abbott Laboratories were worth $343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Safe Harbor Fiduciary LLC purchased a new stake in shares of Abbott Laboratories during the third quarter valued at $83,000. Quantinno Capital Management LP raised its stake in shares of Abbott Laboratories by 64.0% in the third quarter. Quantinno Capital Management LP now owns 124,044 shares of the healthcare product maker’s stock worth $14,142,000 after buying an additional 48,399 shares during the period. Royal London Asset Management Ltd. raised its stake in shares of Abbott Laboratories by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 744,898 shares of the healthcare product maker’s stock worth $84,926,000 after buying an additional 19,763 shares during the period. Rench Wealth Management Inc. raised its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Rench Wealth Management Inc. now owns 69,427 shares of the healthcare product maker’s stock worth $7,915,000 after buying an additional 294 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at approximately $239,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $115.97 on Thursday. The business’s fifty day moving average price is $116.03 and its two-hundred day moving average price is $110.64. The stock has a market cap of $201.14 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

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.