Barclays Cuts Abbott Laboratories (NYSE:ABT) Price Target to $140.00

Abbott Laboratories (NYSE:ABT) had its price objective lowered by Barclays from $141.00 to $140.00 in a research report report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the healthcare product maker’s stock.

Other equities analysts have also recently issued reports about the company. Raymond James increased their price target on Abbott Laboratories from $124.00 to $127.00 and gave the company an outperform rating in a report on Thursday, January 25th. Royal Bank of Canada lowered their price target on Abbott Laboratories from $128.00 to $125.00 and set an outperform rating on the stock in a report on Thursday, April 18th. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, Citigroup raised their target price on Abbott Laboratories from $126.00 to $128.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of Moderate Buy and an average target price of $121.50.

Abbott Laboratories Stock Performance

Shares of ABT opened at $106.89 on Monday. The business’s fifty day simple moving average is $113.90 and its two-hundred day simple moving average is $107.97. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a market cap of $185.47 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 2.58 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Zevenbergen Capital Investments LLC grew its position in Abbott Laboratories by 0.6% in the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after acquiring an additional 130 shares in the last quarter. Perigon Wealth Management LLC grew its position in Abbott Laboratories by 5.2% in the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after acquiring an additional 2,317 shares in the last quarter. Rockland Trust Co. grew its position in Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after acquiring an additional 1,343 shares in the last quarter. VisionPoint Advisory Group LLC grew its position in Abbott Laboratories by 7.4% in the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares in the last quarter. Finally, Gradient Investments LLC grew its position in Abbott Laboratories by 4.7% in the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after acquiring an additional 11,508 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

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