Abbott Laboratories (ABT) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Abbott Laboratories (NYSE:ABT) from a neutral rating to an overweight rating in a report released on Tuesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $60.00 price objective on the healthcare product maker’s stock.

Several other equities analysts also recently weighed in on ABT. Zacks Investment Research upgraded Abbott Laboratories from a hold rating to a buy rating and set a $58.00 target price on the stock in a research report on Friday, September 22nd. Cowen restated a buy rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Wells Fargo & Co raised their price objective on Abbott Laboratories from $57.00 to $64.00 and gave the stock an outperform rating in a report on Thursday, September 28th. Barclays raised their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the stock an overweight rating in a report on Thursday, September 28th. Finally, BMO Capital Markets restated a hold rating and issued a $53.00 price objective on shares of Abbott Laboratories in a report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $59.59.

Shares of Abbott Laboratories (ABT) opened at $58.82 on Tuesday. 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 $102,556.20, a price-to-earnings ratio of 46.32, a P/E/G ratio of 1.88 and a beta of 1.06. Abbott Laboratories has a 52 week low of $38.98 and a 52 week high of $59.60.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts expect that Abbott Laboratories will post 2.5 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.

In other Abbott Laboratories news, insider Brian J. Blaser sold 23,866 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.55, for a total transaction of $1,325,756.30. Following the completion of the sale, the insider now owns 146,387 shares in the company, valued at approximately $8,131,797.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,172 shares of company stock worth $27,533,150. Company insiders own 0.76% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ABT. Sanders Morris Harris LLC lifted its holdings in shares of Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after purchasing an additional 16 shares during the last quarter. St. Louis Trust Co lifted its holdings in shares of Abbott Laboratories by 0.4% in the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after purchasing an additional 20 shares during the last quarter. Lakeview Capital Partners LLC lifted its holdings in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 33 shares during the last quarter. Johanson Financial Advisors Inc. lifted its holdings in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after purchasing an additional 37 shares during the last quarter. Finally, Country Club Trust Company n.a. lifted its holdings in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.

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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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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