Abbott Laboratories (NYSE:ABT) Price Target Raised to $136.00

Abbott Laboratories (NYSE:ABT) had its target price raised by Daiwa Capital Markets from $134.00 to $136.00 in a report released on Tuesday,MarketScreener reports. They currently have an outperform rating on the healthcare product maker’s stock.

Several other research firms also recently weighed in on ABT. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Mizuho boosted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Evercore ISI decreased their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group lifted their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Down 1.2%

NYSE:ABT opened at $126.44 on Tuesday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $132.19 and a 200-day simple moving average of $131.53. The company has a market capitalization of $220.06 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Abbott Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of ABT. Avanza Fonder AB grew its stake in Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares during the last quarter. Madrona Financial Services LLC grew its holdings in Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after acquiring an additional 152 shares in the last quarter. SageView Advisory Group LLC increased its position in shares of Abbott Laboratories by 18.6% in the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock worth $2,427,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Abbott Laboratories by 49.8% during the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock worth $199,939,000 after purchasing an additional 501,200 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

About Abbott Laboratories

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 company 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 physiological rhythm of the colon.