Abbott Laboratories (ABT) Sets New 1-Year High at $58.80

Abbott Laboratories (NYSE:ABT) reached a new 52-week high during trading on Tuesday . The company traded as high as $58.80 and last traded at $58.67, with a volume of 6164945 shares changing hands. The stock had previously closed at $57.07.

A number of research firms recently commented on ABT. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI began coverage on Abbott Laboratories in a report on Wednesday. They issued an “outperform” rating and a $64.00 price objective for the company. JPMorgan Chase & Co. upgraded Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a report on Tuesday. Barclays upped their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price objective on shares of Abbott Laboratories in a report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $59.59.

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The company has a market capitalization of $102,560.00, a P/E ratio of 48.69, a PEG ratio of 1.82 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 28.8% on a year-over-year basis. research analysts predict that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is presently 87.60%.

In other news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.

Several hedge funds have recently bought and sold shares of ABT. Capital Research Global Investors boosted its position in Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. State Street Corp boosted its position in Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after purchasing an additional 12,806,535 shares during the last quarter. Janus Henderson Group PLC boosted its position in Abbott Laboratories by 3,373.9% during the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after purchasing an additional 7,647,798 shares during the last quarter. Vanguard Group Inc. boosted its position in Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares during the last quarter. 71.15% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This article was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.chaffeybreeze.com/2018/01/04/abbott-laboratories-abt-sets-new-1-year-high-at-58-80.html.

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.

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply