Abbott Laboratories (NYSE:ABT) had its price objective hoisted by Barclays PLC from $50.00 to $52.00 in a research note issued to investors on Thursday morning. Barclays PLC currently has an overweight rating on the healthcare product maker’s stock.
Other equities research analysts have also recently issued reports about the company. TheStreet upgraded Abbott Laboratories from a c+ rating to a b rating in a research report on Wednesday, March 8th. Jefferies Group LLC restated a buy rating and set a $51.00 target price on shares of Abbott Laboratories in a research report on Friday, February 17th. Cowen and Company restated a buy rating and set a $48.00 target price on shares of Abbott Laboratories in a research report on Thursday, April 13th. Stifel Nicolaus restated a buy rating and set a $49.00 target price on shares of Abbott Laboratories in a research report on Tuesday. Finally, Royal Bank of Canada raised their target price on Abbott Laboratories from $46.00 to $50.00 and gave the company an outperform rating in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $48.64.
Abbott Laboratories (NYSE:ABT) traded down 1.0794% during mid-day trading on Thursday, hitting $43.5053. The company’s stock had a trading volume of 5,380,034 shares. The company has a market cap of $75.18 billion, a P/E ratio of 46.4304 and a beta of 0.97. Abbott Laboratories has a 12-month low of $36.76 and a 12-month high of $45.84. The firm’s 50-day moving average is $44.52 and its 200-day moving average is $41.64. Abbott Laboratories also saw unusually large options trading on Tuesday. Investors acquired 10,359 put options on the stock. This is an increase of 892% compared to the typical daily volume of 1,044 put options.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.16 billion. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Analysts predict that Abbott Laboratories will post $2.45 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $1.06 annualized dividend and a yield of 2.41%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 113.98%.
In related news, insider Roger Bird sold 13,222 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $45.02, for a total value of $595,254.44. Following the completion of the sale, the insider now owns 63,910 shares in the company, valued at approximately $2,877,228.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Warmuth sold 3,851 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $45.39, for a total transaction of $174,796.89. The disclosure for this sale can be found here. Insiders sold a total of 78,592 shares of company stock valued at $3,400,139 in the last quarter. 0.26% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ABT. Patten Group Inc. increased its stake in Abbott Laboratories by 66.0% in the third quarter. Patten Group Inc. now owns 2,516 shares of the healthcare product maker’s stock valued at $103,000 after buying an additional 1,000 shares during the period. Kanaly Trust Co increased its stake in Abbott Laboratories by 3.7% in the third quarter. Kanaly Trust Co now owns 2,584 shares of the healthcare product maker’s stock valued at $109,000 after buying an additional 91 shares during the period. Cypress Capital Management LLC WY increased 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 during the period. Feltz Wealth PLAN Inc. bought a new stake in Abbott Laboratories during the first quarter valued at $112,000. Finally, Advantage Investment Management LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at $120,000. Hedge funds and other institutional investors own 62.20% of the company’s stock.
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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