Abbott Laboratories (ABT) Receives Consensus Rating of “Buy” from Analysts

Abbott Laboratories (NYSE:ABT) has been given an average recommendation of “Buy” by the twenty-one analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $75.12.

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Abbott Laboratories in a report on Thursday, October 18th. Raymond James upped their target price on shares of Abbott Laboratories from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, October 18th. Finally, Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th.

Shares of Abbott Laboratories stock traded up $0.77 during trading hours on Tuesday, reaching $68.08. 178,036 shares of the company’s stock were exchanged, compared to its average volume of 7,968,239. Abbott Laboratories has a 1 year low of $53.61 and a 1 year high of $74.15. The firm has a market capitalization of $117.52 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.99 and a beta of 1.49. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64.



Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 2.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

In related news, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the sale, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the completion of the sale, the senior vice president now directly owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. Insiders sold 138,297 shares of company stock valued at $9,403,743 in the last three months. 0.74% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ABT. Grassi Investment Management boosted its stake in Abbott Laboratories by 0.6% during the third quarter. Grassi Investment Management now owns 123,859 shares of the healthcare product maker’s stock worth $9,086,000 after buying an additional 776 shares during the period. City Holding Co. lifted its position in shares of Abbott Laboratories by 1.6% during the second quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after purchasing an additional 782 shares in the last quarter. Burns J W & Co. Inc. NY lifted its position in shares of Abbott Laboratories by 3.2% during the third quarter. Burns J W & Co. Inc. NY now owns 25,006 shares of the healthcare product maker’s stock worth $1,834,000 after purchasing an additional 785 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Abbott Laboratories by 4.3% during the third quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after purchasing an additional 791 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of Abbott Laboratories by 7.3% during the second quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after purchasing an additional 795 shares in the last quarter. 72.30% of the stock is owned by hedge funds and other institutional investors.

About Abbott Laboratories

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Further Reading: Why is the ex-dividend date different from the record date?

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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