Shares of Abbott Laboratories (NYSE:ABT) have been given a consensus recommendation of “Buy” by the seventeen research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $53.18.
ABT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, May 16th. TheStreet cut shares of Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Barclays PLC raised their target price on shares of Abbott Laboratories from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $42.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 19th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research note on Saturday, April 22nd.
In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the sale, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the sale, the insider now owns 221,488 shares in the company, valued at $10,188,448. The disclosure for this sale can be found here. Insiders sold a total of 216,702 shares of company stock worth $10,051,413 in the last quarter. Insiders own 0.76% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. bought a new stake in Abbott Laboratories during the fourth quarter valued at about $4,680,000. Winfield Associates Inc. raised its stake in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares in the last quarter. Cypress Capital Management LLC WY raised its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Abbott Laboratories during the first quarter valued at about $112,000. Finally, V Wealth Management LLC bought a new stake in Abbott Laboratories during the second quarter valued at about $127,000. Institutional investors own 71.08% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 1.00% on Tuesday, reaching $49.61. The company had a trading volume of 5,688,266 shares. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.13. The company has a 50 day moving average of $48.86 and a 200-day moving average of $45.10. The company has a market capitalization of $86.09 billion, a P/E ratio of 69.48 and a beta of 1.07.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 15.53%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.14%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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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