Shares of Abbott Laboratories (NYSE:ABT) have been assigned an average rating of “Buy” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $55.86.
Several brokerages recently weighed in on ABT. BidaskClub cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Abbott Laboratories in a research note on Monday, July 10th. Cowen and Company reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd.
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In related news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the sale, the insider now directly owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 333,310 shares of company stock valued at $16,857,255. Company insiders own 0.76% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ABT. Heritage Trust Co lifted its stake in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Winfield Associates Inc. lifted its stake in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. lifted its stake in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares in the last quarter. V Wealth Management LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $127,000. Finally, JFS Wealth Advisors LLC lifted its stake in Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares in the last quarter. 71.45% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories (NYSE:ABT) traded up 0.79% during midday trading on Thursday, reaching $55.06. The company’s stock had a trading volume of 5,423,379 shares. The company’s 50-day moving average price is $52.59 and its 200-day moving average price is $48.17. The company has a market capitalization of $95.66 billion, a price-to-earnings ratio of 77.11 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $55.43.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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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