Abbott Laboratories (ABT) Stock Rating Upgraded by BidaskClub

Abbott Laboratories (NYSE:ABT) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

ABT has been the topic of several other research reports. Royal Bank Of Canada restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Friday. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Wednesday. BMO Capital Markets cut shares of Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a research note on Tuesday, March 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $42.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $49.50.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

Abbott Laboratories (NYSE:ABT) traded up 0.19% during trading on Friday, reaching $48.21. The company had a trading volume of 9,902,210 shares. The firm’s 50 day moving average price is $45.07 and its 200 day moving average price is $42.97. The firm has a market capitalization of $83.66 billion, a PE ratio of 50.17 and a beta of 1.08. Abbott Laboratories has a 12-month low of $36.76 and a 12-month high of $48.38.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Abbott Laboratories had a net margin of 6.74% and a return on equity of 14.91%. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post $2.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a $0.265 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.20%. Abbott Laboratories’s dividend payout ratio (DPR) is 110.42%.

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In other news, insider Joseph J. Manning sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total value of $184,590.00. Following the completion of the sale, the insider now owns 26,224 shares of the company’s stock, valued at approximately $1,152,544.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,902 shares of company stock valued at $9,497,761. 0.76% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Janney Capital Management LLC boosted its stake in shares of Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock valued at $276,000 after buying an additional 26 shares during the last quarter. Zions Bancorporation boosted its stake in shares of Abbott Laboratories by 0.4% in the fourth quarter. Zions Bancorporation now owns 7,824 shares of the healthcare product maker’s stock valued at $301,000 after buying an additional 32 shares during the last quarter. Cedar Hill Associates LLC boosted its stake in shares of Abbott Laboratories by 0.3% in the fourth quarter. Cedar Hill Associates LLC now owns 14,261 shares of the healthcare product maker’s stock valued at $548,000 after buying an additional 41 shares during the last quarter. Pure Financial Advisors Inc. boosted its stake in shares of Abbott Laboratories by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 11,004 shares of the healthcare product maker’s stock valued at $489,000 after buying an additional 45 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its stake in shares of Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock valued at $178,000 after buying an additional 51 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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