Tompkins Financial Corp Buys 2,410 Shares of Abbott Laboratories (NYSE:ABT)

Tompkins Financial Corp raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,215 shares of the healthcare product maker’s stock after acquiring an additional 2,410 shares during the period. Abbott Laboratories comprises approximately 1.1% of Tompkins Financial Corp’s investment portfolio, making the stock its 27th largest holding. Tompkins Financial Corp’s holdings in Abbott Laboratories were worth $11,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC increased its stake in Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after buying an additional 488,764 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after buying an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after acquiring an additional 585,915 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 2.5 %

NYSE:ABT opened at $113.85 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The stock’s fifty day moving average price is $115.02 and its two-hundred day moving average price is $112.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $197.47 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.40 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company 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 $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Analysts Set New Price Targets

Several research firms have weighed in on ABT. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. UBS Group raised their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Piper Sandler boosted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.