Abbott Laboratories (NYSE:ABT) Position Raised by SYM FINANCIAL Corp

SYM FINANCIAL Corp increased its position in shares of Abbott Laboratories (NYSE:ABT) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,010 shares of the healthcare product maker’s stock after purchasing an additional 268 shares during the period. SYM FINANCIAL Corp’s holdings in Abbott Laboratories were worth $343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC bought a new stake in Abbott Laboratories during the third quarter worth approximately $83,000. Quantinno Capital Management LP raised its holdings in Abbott Laboratories by 64.0% during the third quarter. Quantinno Capital Management LP now owns 124,044 shares of the healthcare product maker’s stock worth $14,142,000 after purchasing an additional 48,399 shares in the last quarter. Royal London Asset Management Ltd. grew its position in 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 last quarter. Rench Wealth Management Inc. grew its position in 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 last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in Abbott Laboratories in the third quarter worth approximately $239,000. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction 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 trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE ABT opened at $115.97 on Thursday. The company’s fifty day moving average is $116.03 and its 200-day moving average is $110.64. The stock has a market cap of $201.14 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 2.75 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced 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. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on ABT. Evercore ISI lifted their price target 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. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lifted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Raymond James reiterated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Citigroup lifted their price objective 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.