9,431 Shares in Abbott Laboratories $ABT Acquired by Sunesis Advisors LLC

Sunesis Advisors LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 9,431 shares of the healthcare product maker’s stock, valued at approximately $932,000. Abbott Laboratories comprises approximately 0.5% of Sunesis Advisors LLC’s holdings, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Plimoth Trust Co. LLC increased its position in shares of Abbott Laboratories by 2.1% during the third quarter. Plimoth Trust Co. LLC now owns 28,792 shares of the healthcare product maker’s stock worth $2,846,000 after purchasing an additional 597 shares in the last quarter. Leo Wealth LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at $316,000. IVC Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at $241,000. Holos Integrated Wealth LLC lifted its holdings in Abbott Laboratories by 40.3% in the 3rd quarter. Holos Integrated Wealth LLC now owns 888 shares of the healthcare product maker’s stock valued at $92,000 after purchasing an additional 255 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 7.3% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 12,712 shares of the healthcare product maker’s stock valued at $1,257,000 after purchasing an additional 863 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $104.72 on Tuesday. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The stock has a market cap of $181.20 billion, a PE ratio of 39.07, a P/E/G ratio of 1.82 and a beta of 0.59. The stock has a 50 day moving average price of $105.21 and a 200 day moving average price of $102.61.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.42. The company had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Equities research analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders 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 dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is currently 94.03%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABT. BTIG Research lowered their target price on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Barclays began coverage on shares of Abbott Laboratories in a research report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 price target on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.32.

Abbott Laboratories Profile

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.