Abbott Laboratories (NYSE:ABT) had its target price increased by Wells Fargo & Co from $97.00 to $103.00 in a research note published on Thursday morning, The Fly reports. Wells Fargo & Co currently has an overweight rating on the healthcare product maker’s stock.
A number of other analysts have also weighed in on ABT. ValuEngine lowered shares of Abbott Laboratories from a buy rating to a hold rating in a report on Wednesday, October 2nd. Raymond James increased their target price on shares of Abbott Laboratories from $90.00 to $99.00 and gave the stock an outperform rating in a report on Thursday. William Blair reiterated an underperform rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $93.00 to $101.00 and gave the stock an overweight rating in a report on Tuesday, December 17th. Finally, Evercore ISI lowered shares of Abbott Laboratories from an outperform rating to an in-line rating in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $95.20.
Shares of NYSE:ABT traded down $0.33 on Thursday, reaching $90.40. 4,218,653 shares of the company traded hands, compared to its average volume of 5,909,104. The business’s 50-day simple moving average is $86.80 and its 200 day simple moving average is $84.76. Abbott Laboratories has a 52 week low of $68.80 and a 52 week high of $92.45. The stock has a market capitalization of $162.45 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.26 billion. Abbott Laboratories had a return on equity of 18.34% and a net margin of 11.56%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. Sell-side analysts expect that Abbott Laboratories will post 3.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, January 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.59%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
Several institutional investors and hedge funds have recently made changes to their positions in ABT. BlackRock Inc. increased its position in shares of Abbott Laboratories by 1.8% during the second quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after acquiring an additional 2,199,601 shares in the last quarter. California Public Employees Retirement System grew its position in Abbott Laboratories by 26.0% in the 3rd quarter. California Public Employees Retirement System now owns 3,977,787 shares of the healthcare product maker’s stock worth $332,821,000 after purchasing an additional 821,189 shares during the period. Milestone Resources Group Ltd bought a new stake in Abbott Laboratories in the 4th quarter worth approximately $52,476,000. Johanson Financial Advisors Inc. grew its position in Abbott Laboratories by 8,771.1% in the 4th quarter. Johanson Financial Advisors Inc. now owns 569,791 shares of the healthcare product maker’s stock worth $6,561,000 after purchasing an additional 563,368 shares during the period. Finally, Strs Ohio grew its position in Abbott Laboratories by 38.9% in the 3rd quarter. Strs Ohio now owns 1,695,340 shares of the healthcare product maker’s stock worth $141,849,000 after purchasing an additional 474,836 shares during the period. 73.61% of the stock is owned by institutional investors.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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