Abbott Laboratories (NYSE:ABT) had its target price cut by SVB Leerink from $102.00 to $93.00 in a research note published on Wednesday, BenzingaRatingsTable reports. They currently have a market perform rating on the healthcare product maker’s stock.
Several other analysts also recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Abbott Laboratories from $101.00 to $96.00 and set an overweight rating on the stock in a research report on Friday, March 27th. JPMorgan Chase & Co. dropped their target price on shares of Abbott Laboratories from $101.00 to $88.00 and set an overweight rating on the stock in a research report on Friday, April 3rd. Wells Fargo & Co reissued a buy rating on shares of Abbott Laboratories in a research report on Monday, March 30th. BTIG Research reaffirmed a hold rating on shares of Abbott Laboratories in a report on Thursday, February 6th. Finally, Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a report on Wednesday, February 12th. They issued a neutral rating and a $96.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $93.31.
Shares of NYSE ABT traded up $1.09 during trading hours on Wednesday, hitting $86.04. 10,464,979 shares of the stock were exchanged, compared to its average volume of 14,842,158. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.53. The company has a market cap of $144.48 billion, a PE ratio of 41.77, a PEG ratio of 2.81 and a beta of 0.93. The firm has a fifty day moving average price of $79.11 and a 200-day moving average price of $83.64. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $92.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.08. This represents a $1.44 dividend on an annualized basis and a yield of 1.67%. Abbott Laboratories’s dividend payout ratio is 44.44%.
In other Abbott Laboratories news, SVP Joseph J. Manning sold 37,500 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $89.58, for a total transaction of $3,359,250.00. Following the completion of the transaction, the senior vice president now directly owns 88,032 shares in the company, valued at $7,885,906.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip P. Boudreau sold 10,600 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the transaction, the vice president now owns 22,463 shares of the company’s stock, valued at $1,841,966. The disclosure for this sale can be found here. Insiders have sold 568,733 shares of company stock valued at $50,878,762 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ABT. Norges Bank acquired a new position in Abbott Laboratories during the fourth quarter worth $1,463,224,000. Polen Capital Management LLC boosted its stake in shares of Abbott Laboratories by 7,236.6% in the fourth quarter. Polen Capital Management LLC now owns 8,924,157 shares of the healthcare product maker’s stock valued at $775,152,000 after purchasing an additional 8,802,518 shares during the period. Wealth Quarterback LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $282,410,000. Capital International Investors raised its holdings in Abbott Laboratories by 2.9% in the fourth quarter. Capital International Investors now owns 47,327,202 shares of the healthcare product maker’s stock valued at $4,110,841,000 after acquiring an additional 1,328,056 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Abbott Laboratories by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 10,726,926 shares of the healthcare product maker’s stock valued at $931,741,000 after acquiring an additional 1,181,225 shares in the last quarter. Institutional investors own 75.02% of the company’s stock.
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 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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