Jefferies Financial Group Boosts Abbott Laboratories (NYSE:ABT) Price Target to $98.00
Abbott Laboratories (NYSE:ABT) had its price target increased by Jefferies Financial Group from $80.00 to $98.00 in a research note released on Thursday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the healthcare product maker’s stock.
Several other equities research analysts also recently weighed in on ABT. Royal Bank of Canada raised their price objective on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the company an outperform rating in a report on Monday, April 15th. Raymond James cut their price objective on SM Energy from $20.00 to $15.00 and set an outperform rating on the stock in a report on Thursday. BMO Capital Markets cut their price objective on Comerica to $78.00 and set a market perform rating on the stock in a report on Thursday. Zacks Investment Research downgraded Home Bancshares from a hold rating to a sell rating in a report on Friday, June 7th. Finally, Cowen reissued a buy rating and set a $184.00 price objective on shares of Union Pacific in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $85.82.
Shares of ABT opened at $87.49 on Thursday. Abbott Laboratories has a 52-week low of $62.87 and a 52-week high of $88.32. The firm has a fifty day simple moving average of $82.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market cap of $154.35 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is presently 44.44%.
In other news, SVP Jaime Contreras sold 82,732 shares of Abbott Laboratories stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $70.00, for a total value of $5,791,240.00. Following the completion of the transaction, the senior vice president now directly owns 80,722 shares of the company’s stock, valued at approximately $5,650,540. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Randel William Woodgrift acquired 2,000 shares of the stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $73.40 per share, with a total value of $146,800.00. Following the completion of the transaction, the insider now owns 52,562 shares in the company, valued at approximately $3,858,050.80. The disclosure for this purchase can be found here. Insiders have sold a total of 1,199,910 shares of company stock worth $93,837,075 over the last ninety days. Company insiders own 0.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of ABT. BlackRock Inc. grew its position in Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock valued at $8,755,228,000 after acquiring an additional 3,842,101 shares in the last quarter. Northern Trust Corp grew its position in Abbott Laboratories by 2.7% in the fourth quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after acquiring an additional 708,691 shares in the last quarter. FMR LLC grew its position in Abbott Laboratories by 0.3% in the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after acquiring an additional 65,260 shares in the last quarter. Geode Capital Management LLC grew its position in Abbott Laboratories by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after acquiring an additional 1,778,840 shares in the last quarter. Finally, Norges Bank acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $1,239,454,000. 73.38% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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