ABT Stock: Abbott Laboratories (NYSE:ABT)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a report released on Saturday. They currently have a $52.00 price target on the healthcare product maker’s stock, up from their prior price target of $51.00. Jefferies Group LLC’s price objective suggests a potential upside of 13.74% from the company’s current price.
A number of other analysts have also recently commented on ABT. TheStreet cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 2nd. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, January 10th. Finally, Royal Bank of Canada reduced their target price on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, January 26th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $47.92.
Abbott Laboratories (NYSE:ABT) traded up 0.20% during mid-day trading on Friday, hitting $45.72. 6,105,876 shares of the stock were exchanged. The company has a 50-day moving average of $43.48 and a 200-day moving average of $41.18. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $45.84. The stock has a market capitalization of $79.00 billion, a PE ratio of 48.79 and a beta of 0.97.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Monday, February 6th. The healthcare product maker reported $0.65 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.65. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The business earned $5.33 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post $2.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.32%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 113.98%.
In related news, insider Michael J. Warmuth sold 3,851 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $45.39, for a total transaction of $174,796.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Roger Bird sold 13,222 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $45.02, for a total transaction of $595,254.44. Following the transaction, the insider now owns 63,910 shares of the company’s stock, valued at approximately $2,877,228.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,592 shares of company stock valued at $3,400,139. Corporate insiders own 0.26% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Capstone Investment Advisors LLC bought a new position in shares of Abbott Laboratories during the second quarter worth $1,054,000. Element Capital Management LLC raised its position in shares of Abbott Laboratories by 24.1% in the second quarter. Element Capital Management LLC now owns 43,101 shares of the healthcare product maker’s stock worth $1,694,000 after buying an additional 8,383 shares in the last quarter. Sawtooth Asset Management Inc. raised its position in shares of Abbott Laboratories by 14.7% in the second quarter. Sawtooth Asset Management Inc. now owns 7,835 shares of the healthcare product maker’s stock worth $308,000 after buying an additional 1,006 shares in the last quarter. FDx Advisors Inc. raised its position in shares of Abbott Laboratories by 22.1% in the second quarter. FDx Advisors Inc. now owns 43,057 shares of the healthcare product maker’s stock worth $1,693,000 after buying an additional 7,787 shares in the last quarter. Finally, SNS Financial Group LLC raised its position in shares of Abbott Laboratories by 18.9% in the second quarter. SNS Financial Group LLC now owns 10,706 shares of the healthcare product maker’s stock worth $421,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
The article first appeared in petroglobalnews24.com