Abbott Laboratories $ABT Shares Newly Acquired by Sunesis Advisors LLC

Sunesis Advisors LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,431 shares of the healthcare product maker’s stock, valued at approximately $932,000. Abbott Laboratories comprises about 0.5% of Sunesis Advisors LLC’s holdings, making the stock its 12th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $31,000. Summit Securities Group LLC boosted its stake in shares of Abbott Laboratories by 41.3% in the second quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 118 shares during the last quarter. Addison Advisors LLC purchased a new stake in shares of Abbott Laboratories in the second quarter worth about $40,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Abbott Laboratories by 221.6% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 476 shares of the healthcare product maker’s stock worth $43,000 after acquiring an additional 328 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in Abbott Laboratories during the second quarter worth about $45,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler restated an “overweight” rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Robert W. Baird raised their price objective on shares of Abbott Laboratories from $121.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Royal Bank Of Canada cut their target price on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Finally, Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.32.

Abbott Laboratories Stock Up 1.0%

Abbott Laboratories stock opened at $104.72 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The stock has a market capitalization of $181.20 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 1.82 and a beta of 0.59. The business has a 50 day simple moving average of $105.21 and a 200-day simple moving average of $102.61. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $132.02.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.42. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The firm had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter last year, the firm posted $1.30 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.