ValuEngine cut shares of Abbott Laboratories (NYSE:ABT) from a buy rating to a hold rating in a research note published on Friday morning.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research report on Tuesday, October 31st. Barclays reiterated an overweight rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Citigroup reiterated a neutral rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. BMO Capital Markets reiterated a market perform rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Cowen set a $68.00 price objective on shares of Abbott Laboratories and gave the stock a buy rating in a research report on Thursday, October 19th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $56.81.

Abbott Laboratories (NYSE ABT) traded down $0.39 during midday trading on Friday, reaching $55.98. 5,283,215 shares of the company’s stock traded hands, compared to its average volume of 4,792,905. Abbott Laboratories has a 12-month low of $37.42 and a 12-month high of $56.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The stock has a market cap of $98,117.67, a PE ratio of 23.39, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. equities research analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 83.47%.

In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the sale, the insider now owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold a total of 311,127 shares of company stock valued at $16,958,579 in the last three months. Company insiders own 0.76% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Heritage Trust Co lifted its stake in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $106,000. Winfield Associates Inc. lifted its stake in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares during the last quarter. 71.10% of the stock is owned by institutional investors and hedge funds.

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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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