Brokerages Set Abbott Laboratories (NYSE:ABT) PT at $146.17

Abbott Laboratories (NYSE:ABT) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $147.6111.

A number of brokerages have issued reports on ABT. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective 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. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Finally, Barclays lifted their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Abbott Laboratories

Several hedge funds have recently modified their holdings of ABT. IMG Wealth Management Inc. raised its holdings in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.8%

Shares of NYSE:ABT opened at $128.69 on Thursday. The stock’s 50-day moving average price is $132.38 and its two-hundred day moving average price is $131.54. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a market cap of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the company earned $1.21 EPS. The firm’s quarterly revenue 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, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Abbott Laboratories Company Profile

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.