Abbott Laboratories (NYSE:ABT) had its target price hoisted by Wells Fargo & Co from $77.00 to $80.00 in a research note published on Monday morning. They currently have an outperform rating on the healthcare product maker’s stock.
Other analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a buy rating and issued a $70.00 price objective on shares of Abbott Laboratories in a report on Thursday, July 19th. Zacks Investment Research raised shares of Abbott Laboratories from a hold rating to a buy rating and set a $70.00 price target for the company in a report on Thursday, July 19th. Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the stock a buy rating in a report on Thursday, July 19th. Finally, Sanford C. Bernstein initiated coverage on shares of Abbott Laboratories in a report on Wednesday, June 27th. They set an outperform rating and a $73.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of Buy and an average price target of $71.11.
NYSE ABT opened at $72.84 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $125.33 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.48. Abbott Laboratories has a 12-month low of $51.55 and a 12-month high of $73.29.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. research analysts forecast that Abbott Laboratories will post 2.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
In related news, SVP Jaime Contreras sold 64,268 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total value of $4,295,673.12. Following the completion of the transaction, the senior vice president now owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the completion of the transaction, the insider now directly owns 35,576 shares of the company’s stock, valued at approximately $2,387,505.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,589 shares of company stock valued at $9,998,590. 0.74% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $42,892,000. SP Asset Management bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $6,671,000. HRT Financial LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $206,000. Truvestments Capital LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $686,000. Finally, WealthTrust Fairport LLC lifted its stake in Abbott Laboratories by 1.8% in the 2nd quarter. WealthTrust Fairport LLC now owns 117,216 shares of the healthcare product maker’s stock valued at $7,149,000 after purchasing an additional 2,109 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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