Abbott Laboratories (ABT) Given Average Rating of “Buy” by Brokerages
Shares of Abbott Laboratories (NYSE:ABT) have been given an average rating of “Buy” by the twenty-five analysts that are presently covering the firm. Seven investment analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.94.
Several research firms recently weighed in on ABT. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. 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, September 19th. Jefferies Group decreased their price target on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 13th. Finally, TheStreet upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd.
Shares of Abbott Laboratories (NYSE:ABT) traded down 4.32% during trading on Tuesday, reaching $41.62. 16,202,335 shares of the company were exchanged. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.38. The firm has a market capitalization of $61.18 billion, a P/E ratio of 27.47 and a beta of 0.87. The firm’s 50 day moving average is $42.25 and its 200 day moving average is $41.39.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. Abbott Laboratories’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post ($0.01) EPS for the current fiscal year.
The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.87%.
In related news, insider Stephen R. Fussell sold 41,500 shares of Abbott Laboratories stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the completion of the sale, the insider now owns 196,467 shares of the company’s stock, valued at $8,841,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of Abbott Laboratories stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Parasol Investment Management LLC boosted 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 boosted 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 valued at $106,000 after buying an additional 229 shares in the last quarter. SeaBridge Investment Advisors LLC boosted 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 valued at $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 valued at $120,000. Finally, CapWealth Advisors LLC boosted 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 valued at $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.
Abbott Laboratories Company Profile
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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