William Blair Reaffirms Outperform Rating for Abbott Laboratories (NYSE:ABT)

William Blair restated their outperform rating on shares of Abbott Laboratories (NYSE:ABT) in a report published on Tuesday morning, Zacks.com reports. William Blair also issued estimates for Abbott Laboratories’ Q3 2021 earnings at $1.19 EPS.

Several other equities research analysts also recently weighed in on ABT. Credit Suisse Group upped their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the stock an outperform rating in a report on Thursday, January 28th. Atlantic Securities started coverage on shares of Abbott Laboratories in a report on Wednesday. They issued a neutral rating and a $122.00 price target for the company. SVB Leerink upped their price target on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a market perform rating in a report on Thursday, January 28th. Zacks Investment Research raised shares of Abbott Laboratories from a hold rating to a buy rating and set a $130.00 price target for the company in a report on Tuesday, February 2nd. Finally, Morgan Stanley upped their price target on shares of Abbott Laboratories from $136.00 to $140.00 and gave the company an overweight rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $126.06.

Abbott Laboratories stock opened at $123.50 on Tuesday. The company has a 50-day simple moving average of $119.81 and a 200-day simple moving average of $114.46. The firm has a market capitalization of $218.78 billion, a P/E ratio of 65.34, a P/E/G ratio of 2.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. Abbott Laboratories has a one year low of $86.16 and a one year high of $128.54.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The business had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 3.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.46%. Abbott Laboratories’s dividend payout ratio is 55.56%.

In other news, SVP Randel William Woodgrift sold 1,034 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $120.61, for a total value of $124,710.74. Following the transaction, the senior vice president now owns 51,495 shares in the company, valued at approximately $6,210,811.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph J. Manning sold 18,750 shares of the company’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $122.79, for a total value of $2,302,312.50. Following the completion of the transaction, the senior vice president now owns 81,561 shares in the company, valued at approximately $10,014,875.19. The disclosure for this sale can be found here. Insiders sold a total of 27,476 shares of company stock worth $3,366,543 in the last quarter. 1.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Atlas Private Wealth Advisors increased its holdings in Abbott Laboratories by 107.3% in the fourth quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Inspire Advisors LLC acquired a new position in Abbott Laboratories in the fourth quarter worth approximately $29,000. Black Swift Group LLC bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $35,000. Krane Funds Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $39,000. Finally, PrairieView Partners LLC bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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