Synergy Asset Management LLC Has $6.27 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Synergy Asset Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,310 shares of the healthcare product maker’s stock after selling 1,512 shares during the period. Synergy Asset Management LLC’s holdings in Abbott Laboratories were worth $6,274,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC boosted its position in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Highline Wealth Partners LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at $37,000. Finally, JDM Financial Group LLC increased its position in shares of Abbott Laboratories by 51.3% during the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABT. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Barclays reissued an “overweight” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday. Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Trading Up 0.4 %

Shares of ABT stock opened at $127.86 on Thursday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85. The business’s fifty day moving average is $115.71 and its 200 day moving average is $113.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $221.77 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.