J P Morgan Chase & Co assumed coverage on shares of Abbott Laboratories (NYSE:ABT) in a research note released on Friday, Marketbeat reports. The brokerage issued a neutral rating and a $60.00 target price on the healthcare product maker’s stock.

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Abbott Laboratories from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Jefferies Group LLC restated a buy rating and set a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, June 29th. Morgan Stanley restated an equal weight rating on shares of Abbott Laboratories in a research note on Monday, July 10th. Stifel Nicolaus restated a buy rating and set a $58.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 21st. Finally, Cowen and Company restated a buy rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 17th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $54.75.

Abbott Laboratories (NYSE:ABT) opened at 55.00 on Friday. The firm has a market capitalization of $95.56 billion, a P/E ratio of 77.03 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.11. The company has a 50-day moving average price of $51.71 and a 200-day moving average price of $47.76.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the firm earned $0.55 EPS. Abbott Laboratories’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s payout ratio is 149.30%.

In other news, insider Sharon J. Bracken sold 2,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hubert L. Allen sold 4,600 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,310 shares of company stock valued at $16,857,255. Insiders own 0.76% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. McQueen Ball & Associates Inc. grew its position in shares of Abbott Laboratories by 2.8% in the 3rd quarter. McQueen Ball & Associates Inc. now owns 47,791 shares of the healthcare product maker’s stock worth $2,550,000 after acquiring an additional 1,311 shares in the last quarter. Curbstone Financial Management Corp grew its position in shares of Abbott Laboratories by 95.2% in the 3rd quarter. Curbstone Financial Management Corp now owns 39,728 shares of the healthcare product maker’s stock worth $2,120,000 after acquiring an additional 19,371 shares in the last quarter. Park National Corp OH grew its position in shares of Abbott Laboratories by 0.4% in the 3rd quarter. Park National Corp OH now owns 602,236 shares of the healthcare product maker’s stock worth $32,135,000 after acquiring an additional 2,236 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $1,038,000. Finally, Frontier Investment Mgmt Co. grew its position in shares of Abbott Laboratories by 18.8% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 10,095 shares of the healthcare product maker’s stock worth $491,000 after acquiring an additional 1,598 shares in the last quarter. Institutional investors own 71.50% of the company’s stock.

About Abbott Laboratories

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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