Abbott Laboratories (NYSE:ABT) has been assigned an average recommendation of “Buy” from the twenty-five brokerages that are presently covering the stock. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.94.
ABT has been the subject of several recent research reports. Barclays PLC reissued an “overweight” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, July 12th. TheStreet raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Bank of America Corp. reissued a “buy” rating and issued a $50.00 price objective on shares of Abbott Laboratories in a research report on Friday, August 12th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Monday, September 19th.
Shares of Abbott Laboratories (NYSE:ABT) opened at 40.79 on Tuesday. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 26.92 and a beta of 0.87. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38. The company’s 50-day moving average is $41.96 and its 200 day moving average is $41.39.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company earned $5.30 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 annualized dividend and a yield of 2.55%. Abbott Laboratories’s payout ratio is 68.87%.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the transaction, the senior vice president now owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen R. Fussell sold 41,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the transaction, the insider now directly owns 196,467 shares in the company, valued at approximately $8,841,015. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Parasol Investment Management LLC boosted its position in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. Krilogy Financial LLC boosted its position in Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 229 shares during the last quarter. SeaBridge Investment Advisors LLC boosted its position in Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares during the last quarter. CapWealth Advisors LLC boosted its position in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $120,000. 73.03% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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