Shares of Abbott Laboratories (NYSE:ABT – Get Rating) have been given an average rating of “Moderate Buy” by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $139.64.
ABT has been the subject of a number of research reports. Raymond James lowered their target price on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Citigroup lowered their price objective on shares of Abbott Laboratories from $154.00 to $125.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. StockNews.com began coverage on shares of Abbott Laboratories in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Royal Bank of Canada lowered their price target on shares of Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. Finally, Wells Fargo & Company reduced their price objective on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th.
ABT opened at $110.22 on Monday. The stock has a market capitalization of $192.99 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 3.98 and a beta of 0.75. Abbott Laboratories has a fifty-two week low of $101.24 and a fifty-two week high of $142.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.85. The company has a fifty day moving average of $111.39 and a 200 day moving average of $120.22.
Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11 billion. During the same quarter last year, the business posted $1.32 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 4.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a $0.47 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.88 annualized dividend and a dividend yield of 1.71%. Abbott Laboratories’s payout ratio is 43.62%.
In other news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $113.22, for a total transaction of $5,661,000.00. Following the completion of the sale, the director now owns 6,973,500 shares of the company’s stock, valued at $789,539,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Randel William Woodgrift sold 24,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total value of $2,712,000.00. Following the completion of the transaction, the senior vice president now directly owns 47,854 shares in the company, valued at approximately $5,407,502. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC bought a new position in Abbott Laboratories during the 4th quarter worth about $30,000. Bourgeon Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Dravo Bay LLC bought a new position in Abbott Laboratories in the first quarter worth approximately $32,000. Finally, Delos Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 100.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 116 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.
About Abbott Laboratories: (Get Rating)
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 Established Pharmaceutical Products segment 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 the physiological rhythm of the colon.
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