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

Tompkins Financial Corp raised its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,215 shares of the healthcare product maker's stock after purchasing an additional 2,410 shares during the period. Abbott Laboratories makes up approximately 1.1% of Tompkins Financial Corp's investment portfolio, making the stock its 27th biggest position. 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 large investors have also recently modified their holdings of the business. State Street Corp grew its stake in shares of 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 buying an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC grew its position in Abbott Laboratories by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker's stock worth $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP increased its holdings in 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 purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 purchasing an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake 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 purchasing an additional 585,915 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays raised their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. UBS Group raised their price target 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. Finally, Evercore ISI upped their price objective on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.57.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $0.46 during trading on Friday, reaching $113.45. The company's stock had a trading volume of 6,443,213 shares, compared to its average volume of 4,199,178. The firm has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, 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. 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 firm has a 50 day moving average of $114.93 and a 200-day moving average of $112.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company's revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.08%. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. Abbott Laboratories's dividend payout ratio (DPR) is 66.87%.

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.