Abbott Laboratories (NYSE:ABT) is trading 0.2% higher on analyst update

VaselineOctober 9, 2024

0 4 minutes read

Shares of Abbott Laboratories (NYSE:ABT – Get Free Report ) traded up 0.2% on Wednesday after Royal Bank of Canada upped their target price for the stock from $125.00 to $130.00. Royal Bank of Canada currently has an Outperform rating on the stock. Abbott Laboratories traded as high as $115.15 and last traded at $114.84. About 473,635 shares traded hands during mid-day trading, down 92% from the average daily volume of 5,729,206 shares. Shares previously closed at $114.63.

Other analysts have also issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $125.15, based on data from MarketBeat.

Read the latest stock analysis on Abbott Laboratories

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In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Insiders hold 1.10% of the company’s shares.

Institutional inputs and outputs

A number of institutional investors have recently made changes to their positions in the company. Boltwood Capital Management raised its position in shares of Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the medical products maker’s stock valued at $2,488,000 after purchasing an additional 89 shares during the period. Atwood & Palmer Inc. lifted its position in shares of Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the medical products maker’s stock worth $169,000 after acquiring an additional 90 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Abbott Laboratories by 2.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the medical products maker’s stock valued at $461,000 after buying an additional 91 shares during the period. of shares in the last quarter. Hanson & Doremus Investment Management boosted its holdings in shares of Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the medical products maker’s stock worth $1,160,000 after buying an additional 92 shares during the period. Finally, Encompass More Asset Management boosted its holdings in shares of Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the medical products maker’s stock valued at $312,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s shares.

Abbott Laboratories stock performance

The company has a market cap of $199.78 billion, a P/E ratio of 35.78, a PEG ratio of 2.86 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68, and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $112.73, and its two-hundred-day moving average is $108.21.

Abbott Laboratories (NYSE:ABT – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 18th. The medical products maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted EPS of $1.08. equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents an annualized dividend of $2.20 and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’ dividend payout ratio is currently 68.54%.

About Abbott Laboratories

(Get a free report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and sells health care products worldwide. It operates in four segments: Established Pharmaceuticals, Diagnostics, Nutritional Products and Medical Devices. The company provides generic pharmaceutical products for the treatment of exocrine pancreatic insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease, vestibular pain and inflammation. , and migraine, as well as offers the anti-infective clarithromycin, flu vaccine, and products to regulate the physiological rhythm of the colon.