ABT has been the topic of a number of other research reports. Barclays PLC restated a buy rating and set a $48.00 price target on shares of Abbott Laboratories in a report on Saturday, June 18th. Argus restated a buy rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, July 28th. TheStreet downgraded shares of Abbott Laboratories to a hold rating in a report on Thursday, May 26th. BTIG Research restated a buy rating and set a $45.00 price target on shares of Abbott Laboratories in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada restated an outperform rating and set a $48.00 price target on shares of Abbott Laboratories in a report on Monday. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $47.02.
Abbott Laboratories (NYSE:ABT) opened at 41.92 on Monday. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38. The firm has a market capitalization of $61.62 billion, a P/E ratio of 27.67 and a beta of 0.82. The firm has a 50-day moving average price of $43.17 and a 200 day moving average price of $41.17.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 3.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.48%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 68.87%.
In related news, EVP Hubert L. Allen sold 3,400 shares of Abbott Laboratories stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $37.14, for a total transaction of $126,276.00. Following the completion of the transaction, the executive vice president now directly owns 91,857 shares of the company’s stock, valued at approximately $3,411,568.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Miles D. White purchased 242,547 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average cost of $43.18 per share, with a total value of $10,473,179.46. Following the completion of the acquisition, the chairman now directly owns 2,010,517 shares in the company, valued at $86,814,124.06. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ABT. Parasol Investment Management LLC increased its position in shares of Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares in the last quarter. Krilogy Financial LLC increased its position in shares of Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 229 shares in the last quarter. SeaBridge Investment Advisors LLC increased its position in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock worth $113,000 after buying an additional 275 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of Abbott Laboratories during the second quarter worth $120,000. Finally, CapWealth Advisors LLC increased its position in shares of Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock worth $127,000 after buying an additional 400 shares in the last quarter. 73.03% of the stock is owned by hedge funds and other institutional investors.
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.
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