BMO Capital Markets reaffirmed their hold rating on shares of Abbott Laboratories (NYSE:ABT) in a report issued on Friday morning. The firm currently has a $53.00 price objective on the healthcare product maker’s stock.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $49.00 price objective for the company in a report on Tuesday, May 16th. TheStreet cut Abbott Laboratories from a b rating to a c+ rating in a report on Thursday, May 18th. BidaskClub raised Abbott Laboratories from a buy rating to a strong-buy rating in a report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) initiated coverage on Abbott Laboratories in a report on Tuesday, May 16th. They issued a neutral rating and a $45.00 price objective for the company. Finally, Jefferies Group LLC reissued a buy rating and issued a $58.00 price objective on shares of Abbott Laboratories in a report on Thursday, June 29th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Abbott Laboratories currently has an average rating of Buy and an average price target of $52.50.

Shares of Abbott Laboratories (NYSE:ABT) opened at 51.18 on Friday. The stock has a market cap of $88.92 billion, a PE ratio of 71.68 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.41. The firm has a 50-day moving average price of $49.56 and a 200-day moving average price of $46.48.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities analysts forecast that Abbott Laboratories will post $2.49 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.07%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.

In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the sale, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the business’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 value of $9,041,300.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,252 shares of company stock valued at $19,878,958. 0.76% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of ABT. Capital Research Global Investors boosted its holdings in shares of Abbott Laboratories by 45.7% during the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. State Street Corp boosted its holdings in shares of Abbott Laboratories by 18.9% during the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares during the last quarter. Boston Partners boosted its holdings in shares of Abbott Laboratories by 5,663.7% during the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after purchasing an additional 8,069,557 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Abbott Laboratories by 3,373.9% during the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after purchasing an additional 7,647,798 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Abbott Laboratories by 11.0% during the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.

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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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