Abbott Laboratories (ABT) Given Consensus Recommendation of “Buy” by Analysts
Abbott Laboratories (NYSE:ABT) has been given an average recommendation of “Buy” by the twenty-three research firms that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $66.12.
Several brokerages have recently weighed in on ABT. Barclays upped their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Guggenheim restated a “buy” rating and issued a $72.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Leerink Swann restated a “market perform” rating and issued a $68.00 price objective (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Citigroup upped their price objective on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th.
Shares of Abbott Laboratories (ABT) opened at $57.64 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $99,927.90, a price-to-earnings ratio of 221.70, a PEG ratio of 1.72 and a beta of 1.55. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s payout ratio is 430.79%.
In related news, EVP Stephen R. Fussell sold 13,313 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Blaser sold 23,866 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the transaction, the insider now directly owns 146,387 shares in the company, valued at $8,131,797.85. The disclosure for this sale can be found here. Insiders have sold 374,458 shares of company stock worth $20,752,706 over the last ninety days. 0.76% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories during the fourth quarter valued at $102,000. Icon Wealth Partners LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at $102,000. Heritage Trust Co raised its position in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in Abbott Laboratories during the third quarter valued at $106,000. Finally, Thompson Davis & CO. Inc. raised its position in Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the period. 70.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
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