Abbott Laboratories (NYSE:ABT) has earned a consensus rating of “Buy” from the twenty-three analysts that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $66.12.
Several equities analysts have issued reports on ABT shares. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. BMO Capital Markets upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $58.00 to $65.00 in a research report on Tuesday, December 12th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price for the company in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a research note on Tuesday, January 2nd.
Shares of Abbott Laboratories (NYSE:ABT) traded up $0.67 on Wednesday, reaching $60.17. The company’s stock had a trading volume of 7,849,100 shares, compared to its average volume of 7,711,857. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60. The company has a market cap of $104,730.00, a P/E ratio of 57.86, a price-to-earnings-growth ratio of 1.81 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. sell-side analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 107.69%.
In related news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total value of $836,588.92. Following the sale, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 350,592 shares of company stock valued at $19,426,949. 0.76% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $102,000. Icon Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $102,000. SWS Partners bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $104,000. Heritage Trust Co lifted its holdings in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Finally, Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the third quarter valued at about $106,000. 70.01% of the stock is owned by institutional investors and hedge funds.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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