Synergy Asset Management LLC Buys 5,349 Shares of Abbott Laboratories (NYSE:ABT)

Synergy Asset Management LLC increased its stake in Abbott Laboratories (NYSE:ABTFree Report) by 21.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,662 shares of the healthcare product maker’s stock after purchasing an additional 5,349 shares during the period. Synergy Asset Management LLC’s holdings in Abbott Laboratories were worth $3,375,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Halpern Financial Inc. purchased a new stake in Abbott Laboratories in the third quarter worth $26,000. Altshuler Shaham Ltd bought a new position in Abbott Laboratories in the fourth quarter worth $28,000. Cornerstone Planning Group LLC bought a new position in Abbott Laboratories in the second quarter worth $28,000. CGC Financial Services LLC bought a new position in Abbott Laboratories in the second quarter worth $32,000. Finally, FWL Investment Management LLC bought a new position in Abbott Laboratories in the fourth quarter worth $33,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Citigroup raised their price target on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Raymond James lifted their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays lifted their price objective on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.36.

Read Our Latest Report on Abbott Laboratories

Abbott Laboratories Stock Up 0.2 %

Shares of ABT opened at $113.66 on Friday. The business’s 50 day moving average is $115.10 and its 200 day moving average is $106.55. The company has a market capitalization of $197.22 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 2.73 and a beta of 0.75. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 67.48%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 in the last quarter. 1.10% of the stock is currently owned by insiders.

About Abbott Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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