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

Tompkins Financial Corp boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104,215 shares of the healthcare product maker’s stock after buying an additional 2,410 shares during the period. Abbott Laboratories makes up about 1.1% of Tompkins Financial Corp’s holdings, making the stock its 27th largest holding. Tompkins Financial Corp’s holdings in Abbott Laboratories were worth $11,788,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Edgestream Partners L.P. increased its position in shares of Abbott Laboratories by 506.9% in the second quarter. Edgestream Partners L.P. now owns 15,987 shares of the healthcare product maker’s stock worth $1,661,000 after purchasing an additional 13,353 shares during the last quarter. Waterloo Capital L.P. grew its stake in Abbott Laboratories by 4.6% in the 2nd quarter. Waterloo Capital L.P. now owns 6,670 shares of the healthcare product maker’s stock worth $693,000 after buying an additional 294 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of Abbott Laboratories by 12.8% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 20,580 shares of the healthcare product maker’s stock worth $2,138,000 after buying an additional 2,330 shares during the last quarter. Sienna Gestion raised its position in shares of Abbott Laboratories by 12.6% during the 2nd quarter. Sienna Gestion now owns 3,801 shares of the healthcare product maker’s stock valued at $395,000 after buying an additional 424 shares in the last quarter. Finally, Miramar Capital LLC lifted its holdings in shares of Abbott Laboratories by 1.5% during the 2nd quarter. Miramar Capital LLC now owns 112,211 shares of the healthcare product maker’s stock worth $11,660,000 after acquiring an additional 1,695 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $113.85 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $115.02 and a 200-day moving average price of $112.65. The company has a market cap of $197.47 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.

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

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.07%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ABT shares. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. UBS Group increased their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.57.

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.