Abbott Laboratories (NYSE:ABT) Receives $99.47 Average PT from Analysts

Abbott Laboratories (NYSE:ABT) has been given a consensus rating of “Buy” by the twenty-two research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $99.47.

A number of analysts recently issued reports on ABT shares. Citigroup raised their target price on shares of Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. UBS Group raised their target price on shares of Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Barclays raised their target price on shares of Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Morgan Stanley dropped their price target on shares of Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. Finally, Raymond James lifted their price target on shares of Abbott Laboratories from $92.00 to $102.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th.

Shares of NYSE:ABT traded up $1.28 on Wednesday, reaching $90.76. The company’s stock had a trading volume of 5,304,071 shares, compared to its average volume of 6,968,028. The stock’s 50-day moving average is $91.03 and its two-hundred day moving average is $85.92. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01. The stock has a market capitalization of $161.80 billion, a P/E ratio of 45.02, a PEG ratio of 3.79 and a beta of 0.98.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.47 billion. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Equities analysts forecast that Abbott Laboratories will post 2.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In other Abbott Laboratories news, SVP Jared Watkin sold 8,248 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $82.00, for a total transaction of $676,336.00. Following the completion of the transaction, the senior vice president now directly owns 68,696 shares of the company’s stock, valued at approximately $5,633,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew H. Lane sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the transaction, the executive vice president now directly owns 107,090 shares of the company’s stock, valued at $9,852,280. The disclosure for this sale can be found here. Insiders sold a total of 166,186 shares of company stock valued at $15,359,524 over the last ninety days. Company insiders own 1.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ABT. Orser Capital Management LLC raised its holdings in shares of Abbott Laboratories by 155.3% during the fourth quarter. Orser Capital Management LLC now owns 2,795 shares of the healthcare product maker’s stock valued at $243,000 after acquiring an additional 1,700 shares during the period. Baystate Wealth Management LLC grew its position in Abbott Laboratories by 17.5% in the fourth quarter. Baystate Wealth Management LLC now owns 5,323 shares of the healthcare product maker’s stock worth $462,000 after acquiring an additional 794 shares in the last quarter. Squar Milner Financial Services LLC grew its position in Abbott Laboratories by 44.5% in the fourth quarter. Squar Milner Financial Services LLC now owns 8,856 shares of the healthcare product maker’s stock worth $769,000 after acquiring an additional 2,728 shares in the last quarter. Bristlecone Advisors LLC grew its position in Abbott Laboratories by 81.4% in the fourth quarter. Bristlecone Advisors LLC now owns 7,191 shares of the healthcare product maker’s stock worth $625,000 after acquiring an additional 3,226 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Abbott Laboratories by 11.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 524,098 shares of the healthcare product maker’s stock worth $45,523,000 after acquiring an additional 54,135 shares in the last quarter. 73.44% 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 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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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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